Base is preparing to bring tokenized stocks to its Ethereum layer-2 network through a product being developed with Coinbase, according to Base founder Jesse Pollak.
In a post on X on July 21, Pollak said Base is working with Coinbase on a tokenized equities product backed one-to-one by real shares. He also admitted that Robinhood Chain reached the market first by launching stock-linked assets on Ethereum Virtual Machine (EVM) infrastructure.
one thing robinhood chain has done right is have tokenized equities in an EVM environment.
we’ve been behind on this on @base and i’m frustrated that’s the case. but we’re close to fixing it with @coinbase. and when we do, we’ll have 1:1 backed equities (vs. robinhood’s…
— jesse.base.eth (@jessepollak) July 21, 2026
Pollak said Robinhood had taken the “right” approach by bringing tokenized equities to an EVM-compatible network but acknowledged that Base had fallen behind. He added that the team is “close to fixing it with Coinbase,” although no launch date or product details were disclosed.
Base and Coinbase target 1:1-backed tokenized stocks
Pollak said the planned product will represent equities backed 1:1 by the underlying shares, separating it from tokenized stock products that only track share prices.
Coinbase announced in June that it intends to launch tokenized stocks for customers outside the United States. The company said those assets would represent actual equity ownership, include shareholder rights and dividends, and be fully backed by the corresponding shares.
However, neither Coinbase nor Base has explained how the assets will be issued, held in custody, or represented onchain. Pollak said the proposed model should improve trust, capital efficiency, and institutional adoption, but the companies have not released technical or operational details.
How Base differ from Robinhood Chain
Robinhood launched Robinhood Chain on July 1 as an Ethereum-compatible network focused partly on tokenized real-world assets.
Its Classic Stock Tokens operate as derivatives under Europe’s MiFID II framework. According to Robinhood, users gain exposure to stock prices but do not own the underlying shares or receive shareholder rights such as voting. The assets supporting the contracts are held through a U.S.-licensed institution.
Base and Coinbase are instead positioning their upcoming product around direct ownership through fully backed tokenized equities rather than synthetic exposure.
Tokenized stocks continue to lead crypto competition
Competition in tokenized equities is increasing as crypto firms expand their real-world asset offerings.
Recent industry data valued the tokenized stock market at about $1.85 billion, while the broader tokenized real-world asset sector, excluding stablecoins, has grown to between $31 billion and $34 billion.
Alongside Coinbase and Robinhood, platforms such as Backpack and Kraken-backed xStocks are also expanding tokenized equity products, highlighting growing competition over how traditional shares are brought onchain.
Despite Pollak’s announcement, important details remain undisclosed, including supported markets, transferability, custody arrangements, and whether the Base product will be available to U.S. users. Coinbase had earlier received approval in the UK to offer investment services beyond cryptocurrency, allowing the exchange to add products such as equities and derivatives to its platform.
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