According to online reports, according to analysis by Alex Xu, research partner of Mint Ventures, Coinbase CEO Brian Armstrong and CFO Alesia Haas recently expressed their consideration of tokenizing the company's shares to enable the transfer of Yimei shares on the Base blockchain. If it goes smoothly, U.S. stocks are expected to become the third largest category of RWA (real world assets) assets after stablecoins (USDT, USDC) and treasury bonds (Buidl), and may surpass the current size of government-denominated tokens in the short term. The value proposition of U.S. stocks listed in the chain is mainly reflected in two aspects: first, expanding the scale of the trading market and providing a 7×24-hour, borderless, and unlicensed trading venue; second, superior combinability, and U.S. stock assets can be used as collateral, margin, and building index and fund products. For both supply and demand sides, listed companies can reach global investors to obtain more buying orders, and investors can break through geographical restrictions and directly allocate U.S. stock assets. Related concepts have long been tried. For example, Coinbase planned to list through securities tokens in 2020 but was shelved due to supervision. In the last round of DeFi craze, Terra's Mirror and Ethereum's Synthetix also launched U.S. stock synthetic assets. At present, the SEC's shift in attitude provides new opportunities for such innovation. Related beneficiaries include Polymath's Polymesh blockchain (token Polyx), which has been used by BlackRock to issue $500 million in digital bonds; in addition, RWA projects such as Ondo and Chainlink, a oracle solution, may also benefit from this trend.