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Cryptocurrency exchange Coinbase has unveiled a new application designed to streamline wallet management and enhance user experience, particularly for crypto newcomers.
The app, announced on Thursday, allows users to oversee multiple on-chain wallets and activities from a single platform. The new app enables users to connect and manage multiple wallets, perform various transactions including buying, swapping, sending, staking, and minting coins, as well as interact with other users. Coinbase highlighted the current challenges faced by crypto users:
Today, many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically. Many people also manage several crypto wallets, and until now, achieving a comprehensive view of all their assets in one place has been a challenge.
The application will be accessible on both desktop and mobile devices, with compatibility extending to smart wallets. This move aligns with industry-wide efforts to simplify crypto management for less tech-savvy investors, following similar initiatives by other wallet providers like Exodus.
Coinbase’s big plans
For Coinbase, this app represents another step towards its ambition of becoming a “super app” akin to China’s WeChat. By broadening access and simplifying user experience, Coinbase aims to attract a wider audience to its ecosystem.
In June, Coinbase CEO Brian Armstrong cited Asia where “people have apps that they use [for] digital money in all kinds of areas of their life.” He said that he wants the firm he leads to offer something very similar:
I think that in Coinbase, this case, we want to be that super app, but it’s all going to be based on these decentralized protocols.
What is Coinbase?
Coinbase is a leading cryptocurrency exchange platform and financial services company. Founded in 2012, it provides a user-friendly interface for individuals and institutions to buy, sell, store, and trade various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and many others.
Coinbase is known for its emphasis on regulatory compliance and security, which has helped it gain trust among both retail and institutional investors. The company went public on Nasdaq in April 2021, marking a significant milestone in the mainstream adoption of cryptocurrency services.
