Base has activated its Cobalt upgrade, bringing new capabilities aimed at tokenized finance on the Ethereum layer-2 network. The update adds both tighter issuer controls for tokenized assets and a new transaction mechanism designed to make conditional trading more practical. Announced as Base’s third major upgrade, Cobalt expands the B20 token standard by letting issuers apply multiple compliance and administrative rules to the same tokenized asset—while also introducing “Validity Transactions,” which can be held back until onchain conditions are met. Key takeaways Cobalt expands Base’s B20 standard to support issuer-defined compliance checks and timed handling of certain corporate actions. Issuers can enable controlled transfers via authorized administrators, including optional public notes on those transfers. Validity Transactions add conditional execution , allowing users to submit transactions that only become eligible once specified onchain criteria are satisfied. Base p...