Coinbase Global (COIN) is allowing some users to access Ethereum-based (ETH) decentralized apps (dapps) directly from the Coinbase app.
The feature expansion will enable users to purchase non-fungible tokens (NFT) on various marketplaces, including OpenSea and Coinbase’s own NFT platform; trade on decentralized exchanges including Uniswap and SushiSwap; and borrow and lend through decentralized finance (DeFi) platforms such as Curve and Compound.
The new features will be powered by Coinbase’s new dapp wallet and an enhanced browser. The company said it’s rolling out the new services in the U.S. on Android first to a limited number of users, with plans to expand to all users and platforms globally later this year.
“This move by Coinbase has the potential to give a new wave of users the chance to explore the frontier of DeFi and NFTs,” Andrew Thurman of blockchain analytics firm Nansen said in an interview published on CoinDesk.
Year to date, Coinbase’s stock is down 72% to trade at $70 U.S. a share.
