Jesse Pollak (제시 폴락), the founder of Base, said an upcoming "tokenisation supercycle" will be led by tokenised stocks and stablecoins pegged to non-dollar currencies.

The Block reported on Oct. 9 that Pollak said at the Token2049 event in Singapore, "Next is U.S. stocks and global stocks. The dollar has already done it," adding, "If I had to pick one more, it is currencies other than the dollar. People are underestimating it."

He meant the dollar is already on blockchain, that U.S. and global stocks are next, and that other national currencies besides the dollar will then be offered on blockchain.

Pollak said demand for dollars will remain strong, but people will still spend money in their local currencies. Base currently provides 32 stablecoins linked to 21 currencies, including the euro, Canadian dollar, Nigerian naira and Indonesian rupiah.

More than 99 percent of stablecoin supply is pegged to the dollar, according to The Block data. Among non-dollar stablecoins, the share of coins pegged to the yen and the pound is rising.

Pollak said tokenised stocks will grow faster. The circulating value of tokenised stocks rose eight-fold to $3.3 billion last month from about $400 million in September last year. Coinbase began tokenised stock trading on Base 6 weeks ago. Daily trading volume is $70 million to $100 million and there are 50 listed stocks. It plans to increase that to 250 by the end of this month. Pollak emphasised, "Tokenised stocks trade 24 hours a day, can be sold immediately and can be sent to anyone."

Base shifted its direction this year to focus on three areas - trading, payments and finance - instead of being a general-purpose blockchain. It aims to expand these three areas next year. In payments, it is working with Cloudflare to build a machine-to-machine payments infrastructure that processes 1 million transactions per second. Pollak said, "Over the next 1 to 2 years, all finance will move around agents," adding, "We want Base to be that stage."

Layer2 projects Blast and Abstract recently announced service shutdowns one after another. Pollak did not see that as a sign the era of layer2 experimentation is over. He said, "A chain is also a business. Not every business succeeds."