Coinbase announced the launch of a new multifunctional app 'Base', which combines the functions of a cryptocurrency wallet with social interactions and trading. The presentation took place at the 'A New Day One' conference in Los Angeles.
Introduction of the Base App
Coinbase introduced its new app 'Base' by rebranding its Coinbase Wallet. The new app will include features for trading, payments, messaging, and social networking. 'Coinbase Wallet has now become the Base app, evolving from a wallet to an everything app,' the firm stated in a blog post.
Features of the App
The 'Base' app offers an open social network powered by Farcaster, allowing content creators to earn directly from posts. It also features integrated trading, enabling users to buy, sell, and swap supported cryptocurrencies within the social feed. NFC payments provide instant transfers using USDC via 'Base Pay'. The app will also include mini-apps for gaming, yield farming, and prediction markets.
Competing with Other Super Apps
Coinbase is joining the ranks of companies such as Meta, X, Grab, and WeChat that are developing super apps. These applications bundle various web services and financial functionalities into a single mobile application. Base creator Jesse Pollack noted it was a 'new day for Base and our brand.'
With the launch of the 'Base' app, Coinbase aims to capture its share in the growing super app market, offering users new opportunities for interaction with cryptocurrencies and social services.
