Crypto Exchange Coinbase has launched a new initiative with its “basic app”, with the aim of expanding access to the economy of cryptocurrencies. Presented on Wednesday, this application replaces the Coinbase portfolio and is designed to combine various features, including portfolio, trading, payments, messaging and social media.
Built on the Blockchain network owner of Coinbase, base, which operates on the Blockchain Ethereum (ETH), according to what reported, the app tries to attract a wider audience beyond traditional cryptocurrency enthusiasts.
Start of the basic app
Second For the CNBC, the basic app represents an opportunity to achieve consumers who may not be mainly interested in purchasing or trading cryptocurrencies, a critical pin, given the excessive past of the company on trading revenues.
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To support the launch of the basic app, Coinbase has introduced two significant characteristics: basic account, a basic identity and salary verification system, an express payment tool designed for payments using the USDC Stablecoin issued by the circle.
During the revelation event, Alex Danco, a Shopify product manager, stressed that “tens of thousands” of traders can now use this function, with planes for a wider launch in the coming months. In addition, Shopify intends to offer a 1% refund on USDC payments made via base, further encouraging the use.
While the initial enthusiasm for the Basic network He mainly attracted developers and manufacturers, the remarkable interest is growing among the large financial entities. Recently, JpMorgan has announced his plan to launch a token storage on the basic blockchain, showing the potential of the network.
Ambitious objectives for Coinbase
The basic app is designed to improve monetization options and greater control over their identity and data. As part of this initiative, Coinbase plans to finance the creator’s prizes and give up the USDC Transaction commissions Within the chat features, although there is no significant generation of revenue immediately.
This launch comes at a time when the wider cryptocurrency industry is experiencing an increase in new products, led by favorable policies by the Trump administration and foreseen regulatory clarity by the congress.
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Last month, Coinbase made news with the introduction of his first credit card in collaboration with American Express, while Shopify launched payment solutions powered by USDC via coinbase and stripe.
Coinbase CEO Brian Armstrong has expressed ambitious objectives for the company, with the aim of placing the USDC as the leader of the world StallecoinCurrently dominated by Tether’s USDT. It also imagines the transformation of Coinbase into Premier Financial Services App at a global level in the next five or ten years.
At the time of writing, Exchange actions, coins, are exchanged at $ 398, slightly down to the historical maximum of $ 405, which was reached at the beginning of the negotiation session on Wednesday. Bitcoin (BTC) and other main cryptocurrencies have also shown a significant bullish momentum, with prices that reach new records or levels not seen since the beginning of the year.
First floor image from Dall-E, TradingView.com graphics