DeFi
Coinbase Launches Unified Crypto, NFT, and DeFi Management App
- Coinbase Launches Web App to Manage Cryptocurrencies, NFTs, and DeFi on a Single Platform
- The app integrates multiple wallets and supports trading of over 2 million tokens across 8 blockchains
- Features include gasless transactions, NFT creation, and a robust staking model for an enhanced user experience
In a recent announcement, Coinbase revealed plans to launch a new web app. This innovative platform will offer users a comprehensive view of their cryptocurrency exposure, spanning tokens, NFTs, and DeFi positions.
The goal here is to make it easier for the user and bring all the different features together in one place.
Coinbase’s new web app integrates digital asset management
On Thursday, Coinbase announced plans to create a new web app that would allow users to manage their digital assets in one place.
The app is designed to integrate multiple wallets, allowing users to view and manage their entire investment portfolio, including tokens, NFTs, and DeFi positions, across different blockchains such as Bitcoin, Solana, and Ethereum.
The move is part of Coinbase’s plan to bring about 100 million users to the blockchain.
Sid Coelho-Prabhu, senior director of product management at Coinbase, said user feedback guided the development of the web app. He said, “This is a big step in the right direction. Users who come to this portal will have a simple way to set up a wallet, and if they have multiple wallets, they will be able to set those up as well.”
According to Coelho-Prabhu, users needed a simplified way to manage their assets and view their portfolios on the blockchain. He stressed that the goal of the app was to make on-chain activities more accessible and user-friendly.
Specifically, the new Coinbase Wallet web app offers a number of features designed to improve the user experience. Users can connect multiple wallets and view their total cryptocurrency balance in one place.
Coinbase tweeted that the app supports trading of over 2 million tokens across eight different blockchains, so you can continue trading seamlessly even if you’re logged into a different wallet.
The app also has features that allow creators to create and share NFTs directly on the platform.
According to Coinbase, the app aims to centralize all current blockchain products, making it a “one-stop” destination for all blockchain-related activities.
Coinbase’s Continued Efforts for Better Regulation and Growth
In addition to launching new features, Coinbase continues to fight for better regulation of the digital asset market.
In particular, this “One-Stop” application is a step forward by Coinbase in making blockchain technology more accessible and manageable for both experienced users and novices.
Additionally, the move comes after Bybit surpassed Coinbase to become the second-largest exchange by volume after Binance, according to a report from cryptocurrency research firm Kaiko.
In June 2023, the SEC sued Coinbase and Binance for securities law violations, while Binance was ordered to pay a landmark $4.3 billion settlement for anti-money laundering violations.
Despite these legal challenges, Coinbase has seen strong growth, with trading volume increasing by 193%, which is slightly lower than the average growth rate of other major exchanges.