Base opens Builder’s Loft in Malaysia to support local developers

Coinbase’s Layer 2 network Base has opened its first dedicated physical space for developers in the Asia-Pacific region. The Base Builder’s Loft, which officially launched on May 28, is located at Network School in Forest City, Johor, Malaysia.

The loft functions as a co-living and collaboration hub designed for builders, founders, investors, and creators developing on the Base network.

A ghost city gets a second life

Forest City is a massive development in southern Malaysia, originally conceived as part of China’s Belt and Road Initiative. The project was supposed to be a gleaming international hub. Instead, it became one of the most high-profile examples of speculative overdevelopment in Southeast Asia, plagued by high vacancy rates and a population far below what its sprawling infrastructure was built to accommodate.

Balaji Srinivasan, the former Coinbase CTO and prominent crypto figure, launched Network School as a “startup society” within Forest City’s underutilized buildings, repurposing empty real estate as a co-living community for tech builders and entrepreneurs. The Base Builder’s Loft is an extension of that vision, with Srinivasan directly supporting the initiative alongside Base APAC.

Base’s Southeast Asia playbook

The loft didn’t come out of nowhere. Base has been steadily building momentum in the region, including Base Day Malaysia, which took place on January 22 in Kuala Lumpur. That event drew interest from the local developer community and laid groundwork for a more permanent presence.

What this means for the Base ecosystem

The lack of token incentives is worth paying attention to. Base, unlike many competing Layer 2 networks, has not launched its own token. The Builder’s Loft notably operates without specific token launches or financial incentives tied to it, illustrating a shift towards ecosystem development rather than immediate financial returns.