In a recent post on the X platform, Jesse Pollak, developer of Coinbase’s Ethereum layer-2 network, Base, revealed that the exchange is exploring the possibility of making tokenized shares of its stock available to United States users.
Tokenized COIN Shares Already Available for Non-US Users
As mentioned by Pollak in his January 3 post on X, tokenized COIN shares are already accessible to non-US users through platforms such as Backed, a leading tokenized real-world assets (RWA) platform. This development has sparked interest in the potential of tokenization and its ability to transform US markets.
Coinbase’s Exploratory Phase
Pollak clarified that Coinbase is currently in an "exploratory phase" as it navigates the complexities of US regulations. The exchange aims to gain a deeper understanding of how to implement tokenized shares for US users while ensuring compliance with relevant laws and regulations.
"We need regulatory clarity and improvements that embrace on-chain as an open platform to unlock this for everyone," Pollak stated in his post, highlighting the importance of clear guidelines for the industry.
Global Market Opportunity
According to Colin Butler, Polygon’s global head of institutional capital, collectively tokenized RWAs – including tokenized securities – represent a significant market opportunity globally, valued at $30 trillion. This staggering figure underscores the potential benefits of tokenization and its ability to disrupt traditional financial systems.
US Crypto Stocks See Significant Gains Following Trump’s Victory
The cryptocurrency industry experienced a surge in popularity following Donald Trump’s victory in the presidential election, with US crypto stocks such as COIN witnessing massive gains. As mentioned by Michale Miller, an equities researcher at Morningstar, Coinbase is seen as a beneficiary of this development due to its struggling relationship with regulatory bodies.
Regulatory Clarity Needed for Crypto Adoption
Analysts emphasize that clearer US rules are essential for the adoption of tokenized securities and the overall growth of the cryptocurrency industry. Under President Joe Biden’s administration, the US Securities and Exchange Commission has brought numerous enforcement actions against cryptocurrency companies for purported violations of securities laws.
"The US has at least begun to try moving away from regulation by enforcement toward a broader framework passed by Congress," Citi noted in its December research report shared with Cointelegraph. However, legislation in the United States is lagging behind other major jurisdictions, Citi added.
A Path Forward for Crypto Adoption
As the industry continues to navigate regulatory challenges, experts advocate for a more comprehensive approach to crypto regulation. Clearer guidelines and frameworks will be essential in unlocking the full potential of tokenized securities and fostering greater adoption within the US market.
Additional Reading:
- How Crypto Laws are Changing Across the World in 2025
- Subscribe to Finance Redefined for a weekly toolkit that breaks down the latest DeFi developments, offers sharp analysis, and uncovers new financial opportunities.
By understanding the complexities of tokenization and regulatory requirements, we can unlock the full potential of this emerging market. As Jesse Pollak noted, "every asset in the world will be on Base," and it is crucial to address regulatory concerns to make this vision a reality.
