Coinbase says it is focusing on digital wallets, NFTs and more to accelerate adoption of cryptocurrencies and Web3.

Coinbase says it is focusing on digital wallets, NFTs and more to accelerate adoption of cryptocurrencies and Web3.

Leading US cryptocurrency exchange Coinbase says it is focused on accelerating the adoption of cryptocurrencies and Web3 protocols.

In a new company blog post, the world’s second-largest digital asset exchange says its goal is to “bridge” Web3 for its clients by “supercharging” key building blocks.

First, Coinbase says it will focus on upgrading the security of its proprietary cryptocurrency wallet, as malicious actors have recently deposited tokens in users’ wallets, attempting to lure them into websites that would compromise their security.

“We recently announced that the DApp [decentralized application] blocklist and spam token management tools for Coinbase Wallet… Coinbase Wallet hides known-to-malicious assets from your home screen and gives you the ability to report suspicious tokens that appear in your wallet. »

Next, the crypto exchange giant says it will focus on non-fungible tokens (NFTs) as a way to drive crypto adoption. According to the blog post, Coinbase plans to boost user access to NFT marketplaces as well as developer tools.

“Our strategy at Coinbase is to support all Web3 tools, so creators can focus on what they do best: building a community… You can also access all major NFT marketplaces in the browser in-app. [and] and directly consult the offers on your NFTs. »

Coinbase says it also uses its cloud-based services to help developers build Web3 infrastructure.

“If we can make it easy for developers to build decentralized apps, amazing experiences, games, and social networks in Web3, we can give more people access to the economic freedom that Web3 offers…”

Coinbase Cloud’s goal is to help Web3 developers build a better, more secure, and decentralized internet. »

Finally, the cryptocurrency exchange says it is focused on institutional adoption, saying blue-chip investors are increasingly interested in decentralized finance (DeFi), crypto staking, NFTs and governance protocols .

“We are seeing that institutions are asking for more features and functionality to access and interact with Web3 and DeFi, and we are building to meet those demands. »