Jesse Pollak Reveals Efforts To Tokenize Coinbase’s COIN On Base

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As a seasoned researcher with years of experience navigating the dynamic landscape of blockchain technology and digital assets, I find myself intrigued by the latest developments surrounding the potential tokenization of Coinbase’s COIN stock on the Ethereum layer-2 network Base.

Jesse Pollak’s vision for Base to host every asset in the world is indeed ambitious, but it aligns with the broader trend we are witnessing towards the tokenization of real-world assets. Companies like Franklin Templeton and BlackRock, long-established players in traditional finance, are taking the lead in this digital revolution.

However, the regulatory landscape in the United States remains a significant challenge, as Jesse Pollak pointed out. It’s a bit like trying to navigate the labyrinth of Washington D.C., where every corner holds a new rule or regulation that could potentially derail your plans. But I’ve learned over the years that perseverance and patience are key in this industry.

It will be interesting to see how this unfolds, particularly as Coinbase, with its extensive reach and influence, joins the fray. If successful, it could solidify Base’s position as the leading L2 on Ethereum, outshining even the formidable Arbitrum.

On a lighter note, I can’t help but think of the irony: just when we thought we had seen it all in the world of finance, here comes tokenization, turning traditional assets into digital ones and making regulation an even more complex puzzle to solve! But then again, isn’t that what makes this field so exciting? The constant challenge, the relentless innovation, and the promise of a future where digital assets are as common as the paper money in our wallets. It’s like being a detective in a never-ending whodunit, but with a lot more blockchain code!

Jesse Pollak, a key figure in constructing the Ethereum layer-2 network Base, which is associated with Coinbase Exchange, has subtly suggested potential plans for tokenizing Coinbase’s COIN stock within the protocol. In a recent post on social media platform X, he expressed his vision that “all assets around the world will be accessible through Base.

The COIN Tokenization on Base

As a seasoned developer with years of experience in the blockchain industry, I have seen the evolution of various projects and their integration strategies. In my personal view, integrating COIN on Base seems like an intriguing proposition for layer-2 developers. However, during recent discussions with community members, Jesse Pollak, who has been a key figure in this space, clarified that while there is renewed interest in the idea, no definite plans have been made regarding tokenization at this time. This is not unusual in the fast-paced world of blockchain technology, where priorities and focus can shift rapidly based on market conditions and technological advancements. I’m excited to see how this project unfolds and what impact it may have on the broader ecosystem if and when it happens.

The Base developer stated that the team is currently in an investigative stage. Their objective at this point is to determine the necessary steps from a regulatory perspective that will allow for COIN tokenization on Base. Given the delicate nature of regulations within the U.S., Pollak emphasized their intention to launch COIN on the protocol in a secure, compliant, and forward-thinking manner.

Although there are some concerns, he affirmed that people can currently use COIN on alternative platforms such as BackedFi. However, it’s important to note that access to BackFi is only available to non-US citizens at this time. Obtaining regulatory approval is essential to make the product accessible to everyone on an open source platform in the future.

Currently, there aren’t any definitive arrangements in place. Instead, we’re delving into an investigative stage, aiming to grasp the necessary regulations that need to be addressed in order to securely and compliantly introduce assets like $COIN onto our platform @base in a forward-thinking manner.

still day one.

— jesse.base.eth (@jessepollak) January 3, 2025

As a seasoned researcher with extensive experience in blockchain technology, I can confidently say that Jesse Pollak’s recent reassurance to community members that we’re still on day one resonates strongly with my own perspective. The constant pursuit of improvement and refinement is an integral part of any successful project, and his words serve as a reminder that our work is far from over.

The successful launch of COIN on Base could potentially elevate our protocol to the position of the biggest L2 on Ethereum, surpassing even Arbitrum. This achievement would be a testament to the hard work and dedication of our team, and it’s an exciting prospect that fills me with renewed energy and determination to keep pushing forward. As we continue to innovate and adapt, I am confident that our protocol will remain at the forefront of the blockchain industry.

Tokenization of Real World Assets: Who’s Leading the Pack 

In the realm of digital currencies, tokenization is an increasingly popular trend, with industry giants like Franklin Templeton and BlackRock spearheading this movement. While Franklin Templeton has been a pioneer on Wall Street, BlackRock’s BUIDL money fund has made significant strides, marking important milestones along the way.

These asset managers are broadening the scope of their tokenized investment offerings to include platforms such as Base Network, aiming for a wider audience.

Since its debut a year ago, BlackRock has consistently grown. More recently, Frax Finance announced that their DAO had given approval for BUIDL to be included as a reserve asset within the frxUSD. This is significant as it represents one of the major advancements in protocol expansion reported over the past couple of months.

In addition to those companies, Ripple Labs is also venturing into the tokenization sector. Notably, it has established a partnership with Archax, with an increasing focus on the RLUSD stablecoin and the XRP Ledger as key advancements aimed at fostering growth in this particular market niche.

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2025-01-04 00:24