Xen Baynham-Herd
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Xen Baynham-Herd (Base): launching tokenized stocks
Xen Baynham-Herd of Base joins to discuss the just-launched tokenized stocks: real, legal shares tokenized by Coinbase, backed 1:1, held at a regulated custodian, and representing a full legal claim on the underlying share. He explains the appeal versus a traditional broker — global access, 24/7 trading, and the ability to lend stocks into on-chain financing markets for yield. He frames the launch as part of Base's ambition to be the blockchain for global finance (trading, financing, payments, agents), citing 47 partner apps at launch, agent activity via the Banker app deploying into Aerodrome LPs, x402 agentic payments (90% of which run through Base), and comparing the moment to the early stablecoin era.
Regulation as an advantage, 24/7 markets & Base Batches 4
Xen argues regulation is an advantage rather than a constraint: tokenized stocks are a regulated product built with regulators worldwide, and the right balance protects consumers without stifling innovation. He describes launching into new global markets instead of fighting over existing customers, differentiating on structure (true one-for-one legal ownership) and deep liquidity with tight bid-ask spreads, and predicts incumbents will move to 24/7 trading over time. He closes by announcing Base Batches 4 — a full accelerator with $100K funding and a New York demo day, focused on on-chain finance teams building around tokenized stocks, prediction markets, and perpetuals — before the hosts thank him.
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Xen Baynham-Herd (Base): Roadmap, Agentic Payments & the Bazaar
Xen Baynham-Herd, director of growth at Base, outlines Base's three priorities for the year: permissionless markets bringing every asset onchain, payments for both enterprises and agentic commerce, and making Base the best place for builders. He discusses Coinbase's Bazaar, a two-sided marketplace where agents discover and pay for services, and argues crypto primitives like AMMs and perpetual swaps will reshape TradFi-scale financial markets, with agents raising the game for all traders. He highlights Upshot, a Base Batches winner combining prediction markets with collectible card packs, and explains why making crypto effortless to use takes years of hard work.