Coinbase has made a significant step towards simplifying access to cryptocurrencies with the launch of the new Base App. This application combines trading, social networking, payments, and app discovery.
Features and Capabilities of Base App
The announcement was made on July 16 during the 'A New Day One' livestream event. The Base App is a rebranding and expansion of the Coinbase Wallet. Built on the Base Layer 2 network, the app offers users seamless access to USD Coin (USDC) payments, social engagement, and decentralized applications.
Coinbase describes the app as a platform where users can post, chat, send money, trade, and earn, all without leaving the interface. The social features are powered by Farcaster, allowing creators to earn directly and carry their identity across apps.
Integration with Base Pay Payment System
The app also integrates a new checkout feature called Base Pay, which allows users to pay in USDC across supported platforms, starting with Shopify merchants. Coinbase claims that this feature will provide nearly instant, fee-free transactions, turning USDC into a standard payment method for digital commerce.
Coinbase's Strategy for Popularizing Cryptocurrencies
In addition to these features, the Base App introduces a universal onchain identity through a 'Base Account', simplifying access to services. Users can explore mini-apps directly from their feed, including games and prediction markets, without needing extra downloads. The app is currently rolling out in beta to users on the waitlist. Coinbase positions it as a gateway for more people to access and use crypto in everyday life, without needing to switch between different tools or services.
The launch of the Base App highlights Coinbase's commitment to providing a more user-friendly and accessible way to engage with cryptocurrencies, fostering broader use of crypto payments in everyday transactions.
