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

The move will let users purchase NFTs, trade on decentralized exchanges and borrow and lend on various DeFi platforms.

Updated May 11, 2023, 6:53 p.m. Published May 16, 2022, 10:13 p.m.

The Coinbase app (Leon Neal/Getty Images)

Coinbase Global (COIN) will begin allowing for a “small set” of its app users to access Ethereum-based decentralized apps (dapps) directly from the Coinbase app, according to a blog post Monday.

This addition will help users purchase non-fungible tokens (NFT) on various marketplaces including OpenSea and Coinbase’s own NFT platform; trade on decentralized exchanges including Uniswap and SushiSwap; and borrow and lend through decentralized finance (DeFi) platforms including Curve and Compound.
These features will be powered by Coinbase's new dapp wallet and browser. The company said it's rolling out the new services in the U.S. on Android first to a limited subset of users, with plans to expand to all users and platforms soon.
“Over 95% of the nearly 300 million cryptocurrency investors worldwide have not ventured beyond a centralized exchange,” Andrew Thurman of blockchain analytics firm Nansen told CoinDesk. “This move by Coinbase has the potential to give a new wave of users the chance to explore the frontier of DeFi and NFTs.”

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dapps Ethereum Coinbase NFTs OpenSea

Michael Bellusci

Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.