Coinbase Launches New Wallet Web App

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Hey folks.

On Thursday, the crypto exchange Coinbase announced that it is launching a new web app that is designed to facilitate users with a single platform that would allow them to view and manage their entire crypto exposure including tokens, NFTs and DeFi positions.

According to the statement, multiple wallets can be connected by the users to the new web app. According to Coinbase executives, the platform will allow users with a "one-stop destination to explore, manage, and engage with people, communities, and businesses on chain."

Sid Coelho, Senior Director of Product Management at Coinbase, stated that following the smart wallet's release last month, customers requested that the business provide an intuitive center.

Coelho shared with The Block,

"We got feedback that users were like ‘I also want to manage assets. I want to have a place to go everyday to see what’s happening on chain and manage my on-chain portfolio,'".

Getting all of Coinbase's nearly 100 million users "on chain" is one of the exchange's main objectives, according to Coelho, with the launch of the new web app.

"This is one big step in that direction. A user that we send to this portal is going to have a really easy way to set up a wallet, if they have multiple wallets they can configure that as well," he said. "They can do all of the basic on-chain financial activity they want whether it's buying or trading or anything like that. And they can see what else is going on, on chain."

This action is a component of Coinbase's larger plan to improve user experience and consolidate its onchain product line.

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