'We already did dollars': Base's Jesse Pollak says stocks are crypto's next big wave

Jesse Pollak thinks crypto has already won the dollar and is coming for the stock market next. "It's equities. U.S. and global equities. We already did dollars," the creator of Coinbase's Base network told The Block in an interview at Token2049 Singapore.

Coinbase launched tokenized stocks on Base about six weeks ago. Pollak said they now trade about $70 million to $100 million a day, with 50 stocks listed and about 250 expected by the end of the month. The circulating supply of tokenized stocks grew about eightfold in a year, from roughly $400 million in September 2025 to $3.3 billion last month, according to The Block.

He also expects more stablecoins in currencies other than the dollar. Base now carries 32 stablecoins in 21 currencies, though more than 99% of all stablecoin supply is still pegged to the dollar.

Not every network is thriving. Blast said on October 2 it will wind down because its costs exceed its revenue, and users must leave by October 26. Abstract, backed by Pudgy Penguins' parent company Igloo, will shut on December 15. "Not all businesses are going to work," Pollak said.

What to watch: whether Base reaches 250 listed stocks by the end of October.