Base works with Coinbase on 1-to-1 backed tokenized stocks

Jesse Pollak, head of the Base network, openly admits that Base is trailing Robinhood Chain when it comes to offering tokenised shares in an EVM environment. At the same time, he announces that Base is working with Coinbase on its own solution, where shares are backed on a 1:1 basis by real underlying shares rather than derivatives.

Pollak praises Robinhood Chain but sees a better alternative

In a post on X, Pollak acknowledges that Robinhood Chain is doing something right by offering tokenised shares in an EVM environment. At the same time, he says he is frustrated that Base is not yet ready on this point. “We are behind and I am frustrated that this is the case,” he writes.

Nevertheless, Pollak sees a clear path forward. Base is working with Coinbase on a product that offers tokenised shares with 1:1 backing by real shares. This contrasts with Robinhood Chain’s model, which uses derivatives. According to Pollak, Base’s approach scores better in terms of trust, capital efficiency and institutional adoption.

The power of the capital market on the Base blockchain

Pollak sees great potential in combining the world’s largest capital market with the financial programmability offered by Base’s EVM environment. In his words, this will be a “powerful combination” that goes beyond what competitors currently offer.

The difference from Robinhood’s model is thus not only technical in nature. Whereas Robinhood works with derivatives that track a share’s price, Base’s approach offers a direct, one-to-one link to the underlying share. This makes the product more attractive to institutional parties that value transparency and genuine backing. Pollak does not yet name an exact launch date, but indicates that the release is near.