Base reveals barbell strategy to support builders and enterprises

Base, the Ethereum Layer-2 network built by Coinbase, is pursuing a dual-track strategy: fund early-stage startups building on-chain while rolling out enterprise solutions for companies that need privacy, liquidity, and compliance-friendly infrastructure. Jesse Pollak, who leads Base, laid out this vision as the network continues to scale its ambitions beyond being just another Layer-2 chain.

The startup side: from fund to ecosystem group

Base’s support for early-stage projects got a structural upgrade in March 2025, when the original Base Ecosystem Fund evolved into the Base Ecosystem Group. Led by Coinbase Ventures, the restructured group broadened how capital and resources flow to teams building on the network. The group has backed more than 40 teams to date, spanning various corners of the on-chain economy.

The enterprise side: Base Ledgers and private transactions

Base Ledgers, a key piece of the enterprise strategy, are designed to facilitate privacy-focused transactions while tapping into Base’s broader liquidity infrastructure. For companies that need to move money on-chain without broadcasting every detail to the world, this is the pitch.

Pollak has increasingly framed Base’s trajectory around core financial services: trading, payments, stablecoins, and tokenization.

Stablecoin volume tells the story

Base is processing trillions in stablecoin volume on a monthly basis, a figure that reflects genuine commercial activity. Pollak stepped back from leading the Base App in July 2025, pivoting his focus toward Base as finance infrastructure.

What the barbell approach means for the competitive landscape

For investors watching the Layer-2 wars, Base’s approach is worth monitoring closely. The network doesn’t have its own token, which means its success or failure accrues primarily to Coinbase shareholders and ETH holders who benefit from Layer-2 activity settling back to Ethereum. That dynamic makes Base unusual among its competitors, most of whom have launched tokens that trade independently and create their own incentive structures.

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