Base and Coinbase Launch 1:1 Asset-Backed Tokenized Stocks, Starting Outside US in July

Base creator Jesse Pollak disclosed that the Ethereum layer-2 network is collaborating with Coinbase to develop tokenized stocks backed one-for-one by underlying shares. According to Coinbase's June announcement, the exchange plans to introduce these tokens for eligible non-US customers starting in July, with each token representing genuine equity ownership, including dividend distributions and full shareholder rights.

Polkak noted that Base aims to distinguish its offering from competitors by structuring products as direct share representations rather than derivatives. Neither party has disclosed the initial stocks, custody structure, or supported jurisdictions. Coinbase previously sought regulatory guidance from the Securities and Exchange Commission, as tokenized stocks must comply with brokerage and investor protection rules.