Coinbase Global (COIN) will allow a "small group" of 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 buy NFTs on various marketplaces such as OpenSea and Coinbase's own NFT platform; trade on decentralized exchanges such as Uniswap and Sushiswap; and lend and borrow via DeFi platforms such as Curve and Compound.
- These features are supported by Coinbase's new Dapp wallet and browser. The company said it is rolling out the new services in the U.S. on Android to a limited subset of users initially, and plans to expand them 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 a chance to explore the frontier of DeFi and NFTs."