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Coinbase Expands Features, Allowing Some App Users to Access Ethereum-Based Dapps
The move will let users purchase NFTs, trade on decentralized exchanges and borrow and lend on various DeFi platforms.
Updated May 11, 2023, 6:53 p.m. Published May 16, 2022, 10:13 p.m.
Coinbase Global (COIN) will begin allowing for a “small set” of its app users to access Ethereum-based decentralized apps (dapps) directly from the Coinbase app, according to a blog post Monday.
- This addition will help users purchase non-fungible tokens (NFT) on various marketplaces including OpenSea and Coinbase’s own NFT platform; trade on decentralized exchanges including Uniswap and SushiSwap; and borrow and lend through decentralized finance (DeFi) platforms including Curve and Compound.
- These features will be powered by Coinbase's new dapp wallet and browser. The company said it's rolling out the new services in the U.S. on Android first to a limited subset of users, with plans to expand to all users and platforms soon.
- “Over 95% of the nearly 300 million cryptocurrency investors worldwide have not ventured beyond a centralized exchange,” Andrew Thurman of blockchain analytics firm Nansen told CoinDesk. “This move by Coinbase has the potential to give a new wave of users the chance to explore the frontier of DeFi and NFTs.”
Read more: What Is a Dapp? Decentralized Apps Explained
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