Coinbase Expands Features, Allowing Some App Users to Access Ethereum-Based Dapps

In a blog post posted Monday, Coinbase Global announced its plans to allow a small set of users to access Ethereum-based decentralized apps directly in the Coinbase app.

Users will be able to purchase and sell NFTs on various marketplaces, including OpenSea and Coinbase’s NFT platform.

The company will also allow its users to trade on decentralized exchanges such as Uniswap and Sushiswap, and borrow or lend through DeFi platforms such as Curve and Compound.

These new features will be available through Coinbase’s upcoming dapp wallet and browser. Company officials stated that the new services would be rolled out to a limited number of users first on Android, with plans to expand to all users and platforms in the near future.

According to Andrew Thurman from blockchain analytics firm Nansen, almost all of the nearly 300 million investors in cryptocurrencies do not venture beyond a centralized exchange. “This move by Coinbase may open up DeFi and NFTs to a whole new generation of users,” Andrew added.