The Layer 2 Base network created by cryptocurrency exchange Coinbase has the potential to issue tokens in the future, but not in the near future.
This was announced by the cryptocurrency exchange's spokesman, Paul Grewal, who serves as Coinbase's Chief Legal Officer.
According to him, the company's main focus right now is to bring clarity to the regulatory framework.
Speaking at the Mainnet 2023 Annual Summit, Paul Grewal discussed the company's plans and clarified that there are no plans to launch network tokens at this time.
"That said, we are not ruling out the possibility in the future, as tokens may prove to be viable. But right now, we are not focused on the economics of the protocol and tokenization," Grewal said.
The beta version of Base, which launched on February 23, has attracted considerable attention from the cryptocurrency community as it is intended to serve as a gateway for Web 3.0 protocols. Base was fully launched on August 9th. This launch was met with strong support and a warm reception from various development teams.
Base connected over $240 million worth of crypto assets in the first two weeks, and over 700,000 NFTs were minted on September 6.
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