Key facts
- Base's Cobalt upgrade allows issuers to apply multiple compliance checks to a single tokenized asset.
- Issuers can schedule corporate actions like stock splits, altering token counts without minting or burning.
- The upgrade enables issuers to grant administrators the power to move tokens from a holder's wallet.
- Cobalt introduces Validity Transactions, allowing transactions to be eligible only when specific onchain conditions are met.
- Base previously activated B20 as a native token standard for stablecoins and tokenized real-world assets on July 8.
Base activated its Cobalt upgrade on Wednesday, introducing new functionalities for tokenized assets and onchain finance. The upgrade enhances the network's B20 token standard, enabling issuers to implement multiple compliance checks, such as identity verification, accredited investor status, and sanctions list screening, for the same asset.
Cobalt also allows for the scheduling of corporate actions like stock splits, which will adjust the number of shares displayed in wallets and applications without altering the underlying token balance. Additionally, issuers can empower authorized administrators to transfer tokens from a holder's wallet without explicit approval, with the option to attach a public note to the transfer. Base stated that issuers decide whether to enable these features and who can utilize them, and that Base itself cannot initiate such transfers.