Coinbase has changed the design of the mobile wallet to add a Dapp browser
Cryptocurrency exchange Coinbase (COIN) has changed the design of its mobile wallet, adding a browser of decentralized applications that makes it easier for users to search for decentralized finance protocols (DeFi), non-interchangeable tokens (NFT) and games to interact with them in the company's system.
The changes may help boost activity and revenue on the crypto exchange, as its fees are under pressure from competitors.
The best decentralized applications (dApps) are offered on the browser's homepage, which allows users to exchange tokens in a couple of clicks, according to a demo posted on Coinbase Wallet's Twitter account on Tuesday. Many of the new features are already present in Coinbase Wallet extensions for web browsers.
Coinbase may be hoping that by improving access to these applications, users who have not yet explored these applications will be tempted to do so, which will increase the company's revenue from transactions during the interaction process.
This news appeared on the same day that Binance.US has stated that it is reducing Bitcoin (BTC) trading fees to zero with plans to extend this to other tokens in the future, and Coinbase may be forced to take this step. Coinbase shares fell about 3% after the announcement. Encouraging more transactions in other areas of the crypto universe can help offset the loss of commission income.
Among other changes, autofill, bookmarks and tabs have been added to the search function to make the process of exploring decentralized applications in the wallet more user-friendly. The functionality recreates the experience that customers are used to when using regular web browsers.
Coinbase has also expanded support for the Solana network by adding the ability to send, receive and store SOL tokens and the Solana Software Library (SPL). Users will no longer need separate wallet applications to work with DeFi, NFT and other applications in different blockchains.
The exchange's partners are also striving to solve the problem of integration. For example, Robinhood (HOOD) announced last month that it plans to release a crypto wallet focused on DeFi by the end of the year.
The Coinbase wallet will begin rolling out today, and more users will have access to it in the coming weeks, the company said in a statement.
https://coin-signal.com/cryptonews/coinbase-has-changed-the-design-of-the-mobile-wallet-to-add-a-dapp-browser/
#Add, #Browser, #Changed, #Coinbase, #Cryptonews, #Dapp, #Design, #Mobile, #Wallet
#CryptoNews