A new token for the Coinbase-incubated Ethereum Layer 2 network Base has not been ruled out entirely, according to Coinbase Chief Legal Officer Paul Grewal.

When Base launched in August, Coinbase said, "we currently do not plan to issue a new network token." However, it's "not something we've ruled out entirely," Grewal told Decrypt in an interview at Messari's Mainnet event yesterday. "I think a token could be viable at some point in the future," he added.

For now, Coinbase's focus is on putting the tools and technology out there for users to experiment with, Grewal said. "The goal has always been to expand the opportunity and to provide the tools and technology to allow others to exercise their own creativity."

Grewal also acknowledged that Coinbase would not necessarily be the one …