Coinbase Wallet Rebranded as Base
The Base App replaces the Coinbase Wallet, integrating wallet, trading, payments, and social media functionalities to attract a wider audience.
ETH
USDC
Summary
Coinbase has launched the Base App, replacing its Coinbase Wallet with a multifunctional platform that integrates wallet, trading, payments, and social media. This initiative aims to reach consumers beyond traditional cryptocurrency enthusiasts and includes features like Base Account for identity verification and Base Pay for payments using USDC. The app is built on Coinbase's Base blockchain, which operates on Ethereum, and aims to enhance monetization options while supporting a growing interest from larger financial entities, including JPMorgan's plans for a deposit token on Base.
Terms & Concepts
- Base app: Coinbase's new multifunctional app that combines a crypto wallet, trading, payments, and social media functionalities.
- NFC payments: Near Field Communication payments allow users to make transactions by tapping their devices together, enhancing convenience.
- Mini apps: Embedded applications within the Base app that provide additional functionalities like gaming and yield farming.