Launching Base Mules Token COIN Stock

Coinbase is considering offering tokenized shares of stock to US users of Base, Ethereum's layer-2 network, Base developer Jesse Pollack said in a post on the X forum.

Tokenized COIN shares are already available to non-US users through protocols such as the Backed, tokenized real-world values ​​(RWA) platform, Pollak said in a Jan. 3 X post.

COIN on Base “That's what we're looking for in the new year,” Pollack said, adding that eventually “every asset in the world will be on a base.”

Pollack said Coinbase has “no concrete plans right now” and is in an “exploratory phase” as the exchange works to understand how to navigate US regulations.

“We need regulatory transparency and reform that embraces onchain as an open platform to open this up for everyone,” added Pollack.

RELATED: If Trump clears the way, tokenism could transform US markets.

Bargain Market

Overall, tokenized RWAs — including tokenized securities — represent a $30 trillion market opportunity globally, Colin Butler, Polygon's global head of institutional capital, told Cointelegraph in an August interview.

In November, US crypto stocks posted big gains following Donald Trump's presidential election win, with many saying the win would benefit the industry, according to a Cointelegraph survey.

In the year On November 11, COIN surged more than 20%, pushing the stock above $300 for the first time since 2021.

“We see Coinbase benefiting from the election as the company struggles with regulatory pressure from the SEC,” said Michael Miller, an equity researcher at Morningstar.

“With the incoming Donald Trump administration expected to be more favorable to the cryptocurrency industry, the company's stock trading will face less regulatory pressure,” Miller said.

Regulatory transparency is required

Analysts say clear US rules are critical to crypto adoption, especially for tokens like COIN.

Under President Joe Biden, the US Securities and Exchange Commission has brought more than 100 enforcement actions against cryptocurrency companies for alleged violations of securities laws.

“The United States is starting to try to get out of the rules, at least through enforcement,” investment bank Citi said in a December research note with Cointelegraph.

However, the law in the United States “lags behind other major jurisdictions,” Citi said.

Magazine: How crypto laws are changing around the world in 2025.