Coinbase is building a unified system in which financial activity from its main platform and Coinbase Wallet runs through Base, its Layer 2 network (a faster, lower-cost blockchain built on another network). Base has reached about $5.7 billion in total value locked (TVL, assets deposited in protocols), an all-time high, and has become a major venue for stablecoin transfers and Coinbase’s on-chain activity. The company cites Base’s transaction speed and low fees as reasons for the consolidation. Coinbase also reversed a yearlong experiment that rebranded its wallet as the Base App, restoring the Coinbase Wallet name on September 10 and emphasizing multichain trading while keeping Base central to asset discovery and trading. J.P. Morgan has begun pilots using JPMD deposit tokens on Base for 24/7 instant settlement at near-zero transaction costs. Base moved from Optimism’s OP Stack to its own proprietary technology stack in early 2026. The network has no token of its own, so users pay gas fees in ETH, and Coinbase has not indicated an imminent change. The consolidation gives Base distribution through Coinbase while allowing users to trade across multiple chains rather than being limited to Base.