Base’s 1:1-backed tokenized equities launch ‘imminent,’ Pollak says

Base is close to launching 1:1-backed tokenized equities, according to Jesse Pollak, creator of Coinbase’s Ethereum layer-2 network. Pollak said in a Tuesday X post that Robinhood Chain, the recently launched Ethereum layer 2, had gotten tokenized equities in an EVM environment right, adding that Base was behind on that front.

Lazer Technologies head of fintech Garrett Skrovina asked about the timeline for launching 1:1-backed equities on Base, to which Pollak replied: “Imminent - dotting i’s and crossing t’s, but should be very soon.”

Strategic pivot

The launch comes as Base accelerates its pivot toward financial applications from its earlier focus on social products. Pollak recently said Base made a “wrong bet” by prioritizing creator, content and messaging apps. The network is now focused on trading, payments, AI agents and tokenized assets.

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