Base founder Jesse Pollak says Base and Coinbase are getting close to launching tokenized stocks that would be backed 1:1 by real shares, marking a major step into the growing market for tokenized real-world assets.
In a post on X, Pollak acknowledged that Robinhood moved faster in bringing stock-related assets onto blockchain infrastructure. He praised Robinhood Chain for putting tokenized equities into an Ethereum Virtual Machine (EVM)-compatible environment but admitted that Base had fallen behind in this area.
Pollak said he was frustrated by the delay but added that Base and Coinbase are now close to introducing their own solution.
The key difference, according to Pollak, is that the planned Coinbase and Base product would be backed by actual shares. Each token would represent ownership of a real stock held on a one-to-one basis. This approach differs from some existing tokenized stock products that only provide price exposure through derivative contracts.
Coinbase previously announced plans to offer tokenized stocks to non-U.S. customers. The company said those products would include benefits associated with ownership, such as dividend payments and shareholder rights, while maintaining full backing through the underlying shares.
By contrast, Robinhood’s current stock tokens are structured as derivatives. Users gain exposure to stock price movements but do not directly own the underlying shares or receive voting rights.
The competition highlights the growing interest in tokenized equities, which are becoming an increasingly important segment of the broader real-world asset (RWA) market. Supporters argue that tokenized stocks can offer several advantages, including:
- Extended or 24/7 trading availability.
- Faster settlement times.
- Fractional ownership opportunities.
- Easier global access to financial markets.
- Integration with blockchain-based applications.
The wider tokenized asset market has expanded rapidly in recent years. While tokenized stocks remain a relatively small portion of the sector, major companies are racing to establish their presence. Alongside Coinbase and Robinhood, firms such as Backpack and Kraken-backed xStocks are also developing products that bring traditional financial assets onto blockchain networks.
Despite Pollak’s announcement, several important details remain unknown. Neither Base nor Coinbase has revealed:
- A launch date.
- Which stocks will be available.
- How custody arrangements will work.
- Whether assets will be freely transferable between wallets and decentralized applications.
- Which jurisdictions will have access to the service.
Regulatory questions also remain. Coinbase’s earlier plans focused on non-U.S. customers, and Pollak did not clarify whether the future Base-based product would eventually be available in the United States.
For now, Pollak’s comments signal that Base and Coinbase are moving closer to offering tokenized stocks backed by real equity ownership. As competition intensifies among blockchain platforms and financial companies, tokenized equities are increasingly emerging as one of the most closely watched areas in the digital asset industry.
