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10/10/2026

Tokenized Equities and Non-Dollar Stablecoins Drive Base's 'Supercycle'

What happened: Jesse Pollak, creator of Coinbase's Base network, told Token2049 Singapore that tokenized equities and non-dollar stablecoins are catalyzing a new "tokenization supercycle.

Tokenized Equities and Non-Dollar Stablecoins Drive Base's 'Supercycle'

What happened: Jesse Pollak, creator of Coinbase's Base network, told Token2049 Singapore that tokenized equities and non-dollar stablecoins are catalyzing a new "tokenization supercycle." Coinbase launched tokenized stocks on Base six weeks ago, now seeing $70–$100 million in daily volume across 50 stocks, with plans to list 250 by month-end. The circulating supply of tokenized equities has grown from $400 million to $3.3 billion over the past year. Base now supports 32 stablecoins spanning 21 currencies, including the euro, Canadian dollar, Nigerian naira, and Indonesian rupiah.

Why it matters: These figures mark a significant shift in on-chain finance, with non-dollar stablecoins and tokenized real-world assets (RWAs) gaining traction. Pollak emphasized that "people are really sleeping on non-dollar currencies," suggesting that the next phase of crypto adoption may be driven by global, rather than US-centric, assets. The rapid expansion of tokenized equities and multi-currency stablecoins could reshape trading, payments, and financing, though Pollak cautioned that "not all businesses are going to work." The scale and diversity of these offerings position Base as a leading platform for the next wave of tokenization.

Source: The Block