crypto strategy

Coinbase Says It’s Focusing On Digital Wallet, NFTs, And More To Accelerate Crypto And Web3 Adoption

Leading US-based crypto exchange, Coinbase, says it is focused on accelerating the adoption of crypto assets and Web3 protocols.

In a new company blog postthe world’s second-largest digital asset exchange, says its goal is to “act as a bridge” to Web3 for its clients by “supercharging” key building blocks.

First, Coinbase says it will focus on improving the security of its proprietary crypto wallet, as bad actors recently dumped tokens into users’ wallets, attempting to lure them to websites that would compromise their safety.

“We recently announced the DApp [decentralized application] blocklist and spam token management tools for Coinbase Wallet… Coinbase Wallet hides assets from your home screen that are known to be malicious and gives you the ability to report suspicious tokens that appear in your wallet.

Next, the crypto exchange giant says it will focus on non-fungible tokens (NFTs) as a way to drive crypto adoption. According to the blog post, Coinbase plans to boost user access to NFT marketplaces as well as developer tools.

“Our strategy at Coinbase is to take care of all Web3 tools, so creators can focus on what they do best: building a community… You can also access all major NFT markets in the browser integrated into the app. [and] directly see the offers on your NFTs.

Coinbase says it also uses its cloud-based services to help developers build Web3 infrastructure.

“If we can make it easy for developers to build decentralized apps, amazing experiences, games, and social networks in Web3, we can give more people the access to economic freedom that Web3 provides…

Coinbase Cloud’s goal is to help Web3 developers build a better, more secure, and decentralized Internet.

Finally, the crypto exchange says it is focused on institutional adoption, saying blue-chip investors are increasingly interested in decentralized finance (DeFi), crypto staking, NFTs, and cryptocurrency protocols. governance.

“We’re seeing a growing demand from institutions for functionality to access and interact with Web3 and DeFi, and we’re building to meet those demands.”

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Featured Image: Shutterstock/Panchuali

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