In a recent announcement on X (formerly Twitter), Brian Armstrong, the CEO of US-based cryptocurrency exchange Coinbase, revealed that the company is actively considering a token launch for Base, its Ethereum (ETH) layer-2 (L2) network.
Armstrong articulated that the potential introduction of a network token could serve as a “powerful tool” to accelerate decentralization and foster growth among creators and developers within the ecosystem.
Following the firm’s BaseCamp 2025 event in Vermont, the executive emphasized the importance of building in the open, stating that the exploration of this token aligns with their commitment to transparency and community engagement.
Accompanying Armstrong’s announcement, the Base network published a blog post confirming its intention to explore a network token. The post highlighted that this exploration is in its early stages and does not come with definitive plans at this moment
In addition to the token exploration, the blog post also unveiled an open-source bridge designed to enhance interoperability between Base and the Solana (SOL) blockchain as part of a broader initiative to facilitate seamless interactions across different chains.
When Base originally launched, its focus was clear: to establish a developer-friendly ecosystem capable of executing secure transactions at low costs. The introduction of a network token was not deemed necessary to meet these goals.
However, with the successful achievement of sub-second and sub-cent transactions, as well as nearly one million active users according to Token Terminal data, the team aims to establish a more open and accessible on-chain economy.
The network’s blog post noted that exploring this possibility is one avenue toward realizing their vision of a global on-chain economy, which could enhance decentralization and create more opportunities for builders and creators.
While the exploration is in its nascent stages, the firm made it clear that there are no specific timelines, designs, or governance structures in place yet.
In addition, the blog post reiterated three key commitments to the community: a continued dedication to the Ethereum blockchain, adherence to regulatory guidelines as a US-based company, and a focus on building transparently:
If and when we move forward with a token, it will be grounded in principles, values, and in alignment with our long-term mission: to build a global economy that increases innovation, creativity, and freedom.
In conclusion, Armstrong specified that this is not a definitive plan but rather an update to their philosophy as they consider the future of the network.
When writing, Coinbase’s stock, which trades on the Nasdaq, has reached a valuation of $324. It is still in consolidation mode after dropping from its record high of $444 in July of this year.
Featured image from CCN.com, chart from TradingView.com
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