Base Completes Cobalt Upgrade, Introduces Conditional Trading for Tokenized Assets and Issuer Control Tools

Base has completed its Cobalt upgrade, introducing conditional trading for tokenized assets and issuer control tools. This upgrade expands the B20 token standard, allowing issuers to set multiple compliance checks for the same asset, including identity verification, accredited investor status, and sanctions list screening. Issuers can pre-set adjustments for corporate actions such as stock splits, updating the number of shares displayed in wallets and applications without minting or burning tokens or changing the underlying balance. Issuers can also authorize administrators to transfer tokens without the approval of holders and attach public explanations, while Base cannot initiate such transfers. Cobalt introduces Validity Transactions, allowing users to set on-chain conditions before submitting transactions, such as executing exchanges only if the asset reaches a target price before a specified block deadline. These transactions can remain private until they are included in a block. Base enabled B20 as the native standard for stablecoins and fungible tokens representing tokenized real-world assets on July 8; Coinbase issued B20 tokens representing stocks of Apple, Nvidia, Meta, and Alphabet on Base on August 25.

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