Skip to main content

Coinbase Is Launching A Crypto App Store

In a company blog post released this week, major crypto exchange Coinbase has shared that it is working on a crypto app store. The app store will be built for third-party developers to help increase access to the “decentralized cryptoeconomy” – culminated by an increasing amount of tools within DeFi, NFTs, smart contracts, DAOs, and more.

Coinbase: Embracing Decentralization

The blog post, written by CEO Brian Armstrong and titled “Embracing decentralization at Coinbase”, alludes to inspiration from Apple’s Storefront. “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto,” the post states. The release also states growth opportunities, and the importance of being global as two other pillars around increasing the value-add for Coinbase consumers.

“The use cases are here,” claims Armstrong – and rightfully so. Crypto-based assets beyond simple tokens have been on a tear this year, including NFTs with physical and tangible associated assets, integrated dApps, and sports and entertainment ‘fan tokens’ to name just a few examples.

Related Reading | Coinbase Pro To List Shiba Inu, The “Dogecoin Killer” Price Soars

Looking Forward

There is no timetable set yet for the app store’s launch. The Nasdaq-listed company also noted the importance of adding more assets to Coinbase, as well as implement the ability to add new coins at a faster clip. Armstrong noted that legal and security compliance analyzation remains critical, he wants to streamline the asset vetting process to be quicker to serve clients on both ends. They will do so by addressing three major buckets: reducing the burden on asset issuers, creating a new “experimental zone” for new assets, and at it’s core, moving towards approving most assets for store/send/receive.

Additionally, while the firm serves consumers across over 100 countries, Armstrong wants more. He has cited the need “to move from shipping products that cater only to the US (or UK / EU) to shipping products that work globally.” While US, UK, and EU regulations have led to a good chunk of workload for Coinbase, the firm wants to continue the shift towards a more “International-first mindset”.

Finally, Coinbase wants to better embrace third-party interfaces and self-custody – and ideally the new app store can help achieve that. “Soon any app built on decentralized crypto rails will be accessible to users of the Coinbase app,” Armstrong writes, adding that customer wallets and identities should have streamlined integration. “In the future you will have the option to do self-custody of your crypto, right in the main Coinbase app”. More to come from one of the major leading exchanges.

During the recent bearish cycle, the broader cryptoeconomy has continued to grow - and Coinbase is looking to dig in deeper. | Source: CRYPTOCAP on TradingView.com

Related Reading | The USDC Stablecoin Will Soon Expand Its Reach To 10 More Networks

Featured image from Pixabay, Charts from TradingView.com


from NewsBTC https://ift.tt/3y9XtYv
via IFTTT
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl...
Post a Comment
Read more

FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer

On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far. Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money.  A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hackers have transferred a portion of the stolen funds to the OKX exchange, after using the Bitcoin mixer ChipMixer. The analyst reported that at least 225 BTC — worth $4.1 million USD — has been sent to OKX so far.  1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 According to ZachXBT, the FTX h...
Post a Comment
Read more

2 metrics signal the $1T crypto market cap support likely won’t hold

Despite the 8.5% weekly rally in cryptocurrencies, the lack of stablecoin premiums in Asia and futures markets activity shows buyers’ lack of confidence. Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s ( BTC ) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31. Total crypto market cap, USD (in billions). Source: TradingView The cryptocurrency market was positively impacted by a 6.3% weekly rally in the Russell 2000 mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets. For instance,  55,000 BTC was withdrawn from Binance on Oct. 26, a record high. Typically, analysts consider the reduced number of coins deposited on exchanges a bullish indicator, as the immediate selling pressure eases. Moreover, exchange and wallet provider Blockchain.com ...
Post a Comment
Read more