# Coinbase Explores Tokenized Shares on Base Layer-2 Network
**Introduction**
In a recent post on the X platform, **Jesse Pollak**, the head of engineering at Coinbase, hinted at the company's exploration of offering tokenized shares to U.S. users via its **Base**, a Layer-2 Ethereum network designed for low-latency, high-throughput blockchain operations.
## Tokenized Securities in the U.S.
The concept of tokenized securities has gained traction globally as part of the broader shift towards tokenization in financial markets. **Tokenized real-world assets (RWA)**, such as bonds and equities, have already seen significant adoption through platforms like Backed, which allow users to purchase tokens representing tangible assets with a backing certificate.
## Coinbase's Tokenized Shares on Base
Pollak mentioned that **tokenized COIN shares** are currently available for non-U.S. users via the Backed platform. However, U.S.-based investors have yet to access these tokenized COINs through Base. "COIN on Base is something we're looking into in the new year," Pollak stated, suggesting a phased rollout as Coinbase navigates regulatory complexities.
### Regulatory Clarity Needed
The development of tokenized shares presents challenges under U.S. securities laws. "We need regulatory clarity and improvements that embrace onchain as an open platform to unlock this for everyone," Pollack emphasized. This sentiment aligns with broader market observations, where clearer regulations are crucial for attracting institutional adoption.
## Market Opportunity: Global Tokenization
Colin Butler from Polygon's global head of institutional capital noted that the tokenized RWA market represents a **$30 trillion opportunity** globally. "This is a space that we see could undergo significant transformation if U.S. regulators take action," he said, underscoring the potential for growth and innovation.
## Coinbase's Regulatory Struggles
COIN has faced scrutiny from the U.S. Securities and Exchange Commission (SEC), which has brought more than 100 enforcement actions over alleged violations of securities laws. While Coinbase actively combats these claims in court, analysts expect incoming President Trump to have a favorable stance toward cryptocurrency adoption.
## Regulatory Landscape
Under President Biden, the SEC has prioritized enforcing regulations on crypto companies. However, broader regulatory reforms lag behind global peers. Investment bank Citi observed that U.S. legislation is **"lagging other major jurisdictions"**, suggesting room for improvement in streamlining the regulatory environment for tokenized securities.
## Conclusion
As Coinbase continues to explore tokenization across its ecosystem and Base network, the regulatory landscape remains a critical factor. Clearer rules are essential not only for COIN's success but for attracting institutional investors globally. Stay tuned as developments unfold with potential implications for U.S. crypto adoption.
*Explore more articles about global crypto laws and market trends in 2025.*
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