Coinbase Has No Plans For a Base Token But Prepares to Integrate Solana Network

Coinbase Has No Plans For a Base Token But Prepares to Integrate Solana Network

BlockchainExchange

By Miles

02 Dec 2023 (6 months ago)

1 min read

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Coinbase to integrate Solana for fast, low-cost transactions, while confirming no plans for a Base network token, says CEO Armstrong.

Coinbase has announced its plans to integrate with Solana (SOL) for faster transactions, transactions that will be carried out under a second and at a lower cost, says CEO Brian Armstrong. The integration includes Lightning networks like Bitcoin and Solana.

Coinbase will not issue a token for its layer-2 network, Base. Although there have been talks about it earlier, This clarification was after mixed messages from the company's executives. A Coinbase spokesperson confirmed that the company has no plans to issue a Base token.

Armstrong stated his satisfaction with the progress of the Base network, which has quickly become a major player in the tier-2 market, with nearly $500 million in total value locked since its launch in August.

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