Coinbase Launches Unified Crypto, NFT, and DeFi Management App

• Coinbase introduced a web app to manage crypto, NFTs, and DeFi on one platform
• The app integrates multiple wallets and supports trading over 2 million tokens across 8 blockchains
• Features include gas-free transactions, NFT creation, and a robust staking model for enhanced user experience

In a recent announcement, Coinbase revealed plans to release a new web application. This innovative platform will offer users a comprehensive view of their cryptocurrency exposure, encompassing tokens, NFTs, and DeFi positions.

The goal here is to make things 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 for a new web app that would let users manage their digital assets in one place.

The application is designed to integrate multiple wallets, allowing users to view and manage their entire investment portfolio, including tokens, NFTs, and DeFi positions, on different blockchains such as Bitcoin, Solana, and Ethereum.

This move is part of Coinbase’s plan to get about 100 million users onto the blockchain.

Coinbase Senior Director of Product Management, Sid Coelho-Prabhu, said user feedback guided the development of this web app. He said: “This is a big step in the right direction. Users who access this portal will have an easy way to set up a wallet, and if they have multiple wallets, they can set those up as well”.

According to Coelho-Prabhu, users needed a simplified way to manage their assets and view wallets on the blockchain. He emphasized that the application’s goal is to make activities on the chain more accessible and user-friendly.

Specifically, the new Coinbase Wallet web app offers a number of features designed to enhance 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 more than 2 million tokens on eight different blockchains, so you can keep trading without a hitch, even if you’re connected to a different wallet.

The app also has features that let creators make and share NFTs directly on the platform.

According to Coinbase, the app aims to centralize all current on-chain products, making it a “one-stop” destination for all blockchain-related activities.

Coinbase’s Ongoing 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 experienced users and novices alike.

Moreover, this decision comes after Bybit surpassed Coinbase to become the second largest exchange by volume after Binance, according to a report by cryptocurrency research firm Kaiko.

In June 2023, the SEC sued Coinbase and Binance for securities violations, while Binance faced a historic $4.3 billion settlement for anti-money laundering violations.

Despite these legal challenges, Coinbase has seen a lot of growth, with a 193%  in exchange volumes, which is slightly below the average growth rate of other major exchanges.