Jarsy chooses Base for compliance

Choosing Base signals that Jarsy sees tokenized private stock as a regulated securities product first, and a crypto product second. In practice that means building on infrastructure tied to Coinbase, a U.S. public company that already operates under intense regulatory scrutiny, even if that makes partnerships and growth slower. For a platform selling economic rights in private shares, that tradeoff matters more than raw chain speed or developer openness.

• The concrete reason is not that Base has some special onchain compliance feature. It is that Coinbase owns and develops Base, and Coinbase has stronger incentives than foundation run chains to avoid promoting anything that sits in a gray area with the SEC. Han Qin points to Base declining to co market Jarsy as proof of that posture.
  1 sacra 2 coinbase
• That fits Jarsy's structure. Jarsy still uses Delaware SPVs to buy private shares, but users do not buy LP interests in those SPVs. They buy blockchain tokens that pass through economic exposure without voting rights. Once the product starts resembling securities distribution rather than pure crypto speculation, the chain choice becomes part of the compliance stack.
  1 sacra 3 sacra
• The broader market is splitting into two models. Jarsy is betting on compliance first distribution on Base, while other tokenized equity products emphasize always on trading and programmability. Robinhood's EU stock tokens, for example, are tokenized derivatives that track stocks rather than the underlying shares themselves, which shows how much product design still bends around local rules.
  4 robinhood 5 robinhood

The likely next phase is that tokenized equities move onto chains and distribution rails run by highly regulated financial companies. If that happens, the winners will look less like open crypto apps and more like brokerages and marketplaces that can wrap KYC, AML, securities law, custody, and distribution into one clean user flow.