Base Blockchain Overtakes Solana in Value Locked
Financial-services operators weighing stablecoin payments and tokenized assets now have another blockchain option to benchmark.
Updated on Nov. 1, 2026 in Financial Services
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Base, the blockchain built by Coinbase, has surpassed $6 billion in total value locked and overtaken Solana, according to its creator Jesse Pollock. For operators in financial services, the chain is being positioned around trading, global payments through stablecoins, and lending.
Why it matters
Pollock says crypto has found practical demand in trading, payments, and lending over the past 18 months, moving beyond its store-of-value role. Base was built after Coinbase's earlier blockchain experiments failed, with the aim of giving the company's existing business a fast, inexpensive, and trustworthy platform.
Base reports more than $6 billion in total value locked, ahead of Solana, and handles more USDC money-movement volume than any other blockchain, ranking second only to Ethereum as a financing marketplace. The figures are platform-reported, and the source does not state the comparison period or the growth rate behind the $6 billion total.
The players
Coinbase
Coinbase is a large U.S. cryptocurrency exchange whose business Base was built to support, moving its existing operations onto blockchain infrastructure.
Jesse Pollock
Jesse Pollock is the creator of Base, who has argued that crypto has found practical demand in trading, payments, and lending.
The details
Base is designed around three functions: trading major cryptocurrencies, tokenized equities, and currencies; enabling global payments through stablecoins; and offering borrowing, lending, and credit services. Pollock and a colleague reportedly built the chain in one week after several unsuccessful experiments, concluding they needed a fast, inexpensive, and trustworthy foundation. Base also aims to provide infrastructure for AI agents to trade, make payments, and access financing, and it has launched tokenized equities.
Timeline
Base testnet launched in February 2023.
Base mainnet launched in August 2023.
Pollock's interview on The Wolf of All Streets took place on November 1, 2026.
Market Landscape
Base's reported lead over Solana in total value locked places it ahead of a competing high-throughput chain in the crypto financial infrastructure market. The development reflects a shift in which blockchains capture financial activity as platforms compete on trading, payments, and lending use cases.
Operators in payments, lending, and trading should evaluate whether stablecoin settlement and tokenized assets on blockchain infrastructure fit their cost and speed requirements. Firms that depend on crypto rails should review how custody, compliance, and counterparty terms apply on any chain they use.
The takeaway
Operators should treat stablecoin payments and tokenized equities as emerging settlement options worth benchmarking against existing rails. Review counterparty, custody, and compliance terms with qualified counsel before committing payment or lending volume to any blockchain platform.
Further reading
For broader context on how blockchain platforms are reshaping lending and payments, see the Financial Services coverage.
Source note: This article includes information reported by TokenPost.
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