Tokenized Equities Go Live
Coinbase's Base Prepares Imminent Launch of 1:1-Backed Tokenized US Equities, Including Apple and Tesla
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Key Points
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Implied probability for Base launching 1:1-backed tokenized U.S. equities by end-2026 is 12.5%, up from 10% a day earlier in Vera's prediction-market reading.
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Pollak indicated the tokenized-equities rollout is imminent and that Base is close to fixing the timing with Coinbase, noting that tokenized equities on an EVM-friendly environment are a key near-term goal (echoing broader ' imminent ' timing).
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Coinbase has said tokenized stocks for non-U.S. customers would represent equity ownership and include dividend payments and shareholder rights, outlining a 1:1 backing with underlying shares.
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Robinhood’s Classic Stock Tokens are described by regulators as derivative contracts under MiFID II, meaning customers do not own the underlying shares or enjoy shareholder rights.
Base, Coinbase's Ethereum layer-2 network, is on the verge of launching 1:1-backed tokenized U.S. stocks, according to CoinTelegraph. Lead developer Jesse Pollak said the launch is "imminent" and that Base is close to finalizing timing with Coinbase. Shares like Apple and Tesla would be held in regulated custody, with on-chain transfers, dividend payments, and shareholder rights passed through to holders.
The move marks a major strategic shift for Base. In mid-2026, the network pivoted away from social apps toward financial tools — including trading, payments, AI agents, and tokenized assets, Crypto Briefing reported.
Pollak Says Base Is Fixing Timing With Coinbase
Pollak acknowledged that Base has lagged behind rivals in tokenized equities. "Robinhood Chain got there first," he said, but added that Base is close to "fixing" that gap. According to LCX, Pollak stressed that Base's model will use true 1:1 backing — meaning one token equals one real share held in custody. This sets it apart from derivative structures used by some competitors.
Bloomingbit reported that the service is in its "final stages." Exact launch dates have not been disclosed. But Pollak's repeated use of the word "imminent" signals a rollout could happen within weeks, not months.
What 1:1 Backing Means for Token Holders
Coinbase has said tokenized stocks for non-U.S. customers would represent real equity ownership. That means holders get dividend payments and shareholder rights — not just price exposure. Each token would be backed by one actual share held in regulated custody, according to CoinLaw.
This structure matters. Robinhood's Classic Stock Tokens, by contrast, are classified as derivative contracts under Europe's MiFID II rules. That means Robinhood customers do not own the underlying shares and have no shareholder rights. Base's model aims to close that gap entirely.
Nasdaq Rule and Regulatory Tailwinds Push the Timeline
The push comes as regulation catches up to the idea. Nasdaq recently adopted a tokenized-securities rule, clearing a key hurdle for compliant on-chain equity products. Crypto Briefing noted this regulatory progress as a direct catalyst for Base's accelerated timeline.
Prediction markets have taken notice. Vera's market-implied probability of Base launching 1:1-backed tokenized U.S. equities by end-2026 rose to 12.5%, up from 10% just one day earlier. That is still a low number, but the direction signals growing confidence in the near-term launch.
Base Bets on Finance After Social Strategy Stalls
For much of its early life, Base leaned into social-first crypto apps. That approach failed to generate the traction Coinbase wanted. In mid-2026, Base formally shifted its focus to financial applications — trading, payments, AI agents, and tokenized real-world assets, according to CoinTelegraph.
Tokenized equities sit at the center of this new strategy. If Base can deliver true 1:1-backed stocks on an EVM-compatible chain — with dividends and voting rights intact — it could attract a wave of users who want stock exposure without leaving crypto rails, Bloomingbit reported.
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