Base creator Jesse Pollak confirms equities and non-dollar stablecoins will lead upcoming ‘tokenization supercycle’
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Jesse Pollak, creator of the Base Layer 2 network, said tokenized equities and non-dollar stablecoins will lead the forthcoming "tokenization supercycle.
Key facts
- Coinbase launched tokenized stocks on Base six weeks ago, with about $70 million to $100 million in daily trading volume, 50 stocks listed, and 250 expected by the end of the month, according
- On Oct. 2, Ethereum Layer 2 Blast announced that it would wind down because costs exceed revenue, and told users to leave by Oct. 26
- Jesse Pollak, creator of the Base Layer 2 network, said tokenized equities and non-dollar stablecoins will lead the forthcoming "tokenization supercycle
- The Base creator said tokenization opens up previously limited access to equities to global traders, and offers a "clearly better experience" than regular trading, "They're 24/7, they're instantly
Summary
U.S. and global equities. According to Pollak, the dollar will remain in high demand, but countries will stay sovereign, and people will continue to spend in their local currency. "The reporter thinks they can start this transition of fintechs in the local regions, moving on to stablecoin rails as the underlying backend without people even having to know about it," Pollak said. Over 99% of the stablecoin supply today is pegged to the U.S. dollar, but The Block's data show that Japanese yen- and sterling-pegged stablecoins have expanded their share among non-dollar stablecoins.