Coinbase Expands List of Wallet App Features to Take DeFi-First Approach -Breaking
The United States’ largest crypto exchange, Coinbase (NASDAQ:), has rolled out new set of features for its exchange, allowing users to experience DeFi, dApps, and a self-custodial wallet app.
Coinbase launches DeFi
Coinbase has announced the availability of the new features to select wallet app users. This will allow them access to Ethereum-based decentralized applications (dApps), like OpenSea from within the Coinbase App.
Coinbase now supports DeFi integration, which allows users to make trades on Decentralized Exchanges (DEXs), and also interact with Decentralized Finance (DeFi) lending protocols for borrowing and lending funds.
According to Coinbase’s Director of Product Management Rishi Dean, eligible users will be able to trade on external non-fungible token (NFT) marketplaces. Coinbase has launched its NFT marketplace since April 20th.
Coinbase turns to Multichain and Self-Custody
Coinbase has launched a Web browser to access dApps and a Web 3.0 ID.
Coinbase Pay will integrate into MetaMask and Coinbase Wallet. It is a simplified fiat-tocrypto onramp.
- Coinbase, which was affected by recent market declines, experienced a bankruptcy crisis this year and is now focusing on its hiring strategy.
Why you should care
Coinbase could offer a fresh wave of DeFi and NFT users the opportunity to make this move.