Coinbase is exploring the possibility of offering tokenized shares of its stock, COIN, to U.S. users via Base, Coinbase's Ethereum layer-2 network. Jesse Pollak, a developer for Base, indicated that while tokenized COIN shares are already accessible to non-U.S. users through platforms like Backed, U.S. launch plans are still in an exploratory phase, with no concrete steps decided yet due to the complexities of U.S. regulations. Pollak expressed optimism about the future, suggesting that virtually every asset could eventually be represented on Base. Meanwhile, the broader market for tokenized real-world assets (RWAs) is significant, with estimates of a $30 trillion opportunity. However, clear regulatory frameworks are deemed necessary for the adoption of tokenized securities like COIN, especially given the SEC's aggressive enforcement actions in the past under the Biden administration. If regulations improve, institutions believe that Coinbase may benefit from a more favorable political landscape in future administrations.

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