The Base network has successfully implemented its third major upgrade, Cobalt, which introduces new functionality for tokenized assets. The update expands the B20 token standard, enabling issuers to enforce multiple compliance requirements simultaneously. These include mandatory identity verification, accredited investor status checks, and screening against sanctions lists.
Cobalt adds tools for managing corporate actions, such as stock splits, allowing issuers to adjust displayed share counts without altering underlying token balances. Additionally, the upgrade grants authorized administrators the ability to perform forced token transfers from user wallets, accompanied by public notes. Base clarified that issuers control these features, and the network itself cannot initiate such transfers.
The upgrade also introduces Validity Transactions, a feature enabling users to set specific onchain conditions for trade execution. Transactions are held and evaluated against the network state until conditions, such as price targets or block deadlines, are met. This system allows for private transaction submission until the moment of inclusion in a block.
This development follows the July 8 launch of the B20 standard, designed for stablecoins and real-world assets. Coinbase has already utilized this standard to issue tokenized shares of Apple, Nvidia, Meta, and Alphabet on the network. Base creator Jesse Pollak noted a strategic shift toward financial applications, including payments and trading, to position the network as a global financial blockchain.
Looking ahead, Base aims to optimize network performance by reducing block times from two seconds to 200 milliseconds. The roadmap includes implementing protocol-level support for bundled transactions and sponsored fees. Furthermore, the network plans to integrate technical updates aligned with the upcoming Ethereum Glamsterdam upgrade.
