Base Cobalt Upgrade Adds Controls to Tokenized Assets
Coinbase's Base network has activated its Cobalt upgrade, adding new controls to tokenized assets. The update introduces scheduled balance multipliers, seizure operations with a record, and combined transfer policies for B20 issuers.
The Cobalt upgrade does not make tokenized assets shares in the companies they track, but rather makes the rules enforced by the tokens more explicit and the identity of the issuer more consequential.
Issuers can now use scheduled multipliers to change displayed token balances at a future time without each holder signing a transaction. Seizure operations can move a holder's balance under issuer authority when permitted by policy.
The upgrade also adds B20 asset functions, transactions conditional on chain state, and an on-chain method for registering trusted-execution-environment prover signers.