BoA Upgrades Coinbase to Buy on Base Growth, Tokenization Tailwinds
Bank of America Upgrades Coinbase to ‘Buy’ on Base Prospects and Tokenization Theme
Bank of America upgraded Coinbase to a “Buy” rating, arguing that the crypto exchange is positioned to benefit from tokenization trends and from the continued development of its own blockchain network, Base.
In the analysts’ view, Coinbase stands out as a tokenization leader and could see expanding utility and revenue opportunities tied to Base, which functions as infrastructure for products the company is already bringing to market.
Bank of America pointed to Base’s role in underpinning Coinbase’s Bitcoin-backed lending product and the Coinbase Base app. The bank framed Base as more than a technical initiative, instead treating it as a platform that can support new services inside Coinbase’s ecosystem.
The analysts also highlighted the possibility that a native currency for Base could be introduced in the future. They wrote that such a debut would likely benefit Coinbase, characterizing it as an effective windfall for the exchange.
The upgrade reflects a broader narrative in crypto markets: major platforms are increasingly building or operating blockchain networks to support on-chain applications and tokenized financial products, potentially deepening user engagement and creating new business lines beyond traditional spot trading.
