Coinbase’s Base App: A Super App for Crypto?

Coinbase has launched its “Base App,” aiming to expand crypto access beyond traditional users. This app, replacing Coinbase Wallet, integrates wallet, trading, payments, messaging, and social features. Built on Coinbase's Base blockchain (operating on Ethereum), it seeks to attract a broader audience, particularly those less interested in active crypto trading. To support the launch, Coinbase introduced Base Account (identity verification) and Base Pay (USDC payments via Circle). Shopify is already integrating Base Pay, offering 1% cash back on USDC payments, with tens of thousands of merchants currently enabled. The Base network is garnering attention; even JPMorgan plans to launch a deposit token on it. Coinbase aims to monetize through features like creator rewards and waived USDC transaction fees within the chat functions, though immediate revenue isn't expected. This launch coincides with a surge in crypto products due to positive US policy shifts and regulatory anticipation. Coinbase's broader ambitions include making USDC the leading stablecoin and transforming itself into a top global financial services app. The launch follows Coinbase's recent American Express credit card release and Shopify's USDC payment integration. Currently, Coinbase's stock (COIN) trades near its all-time high. The app's success will depend on its ability to attract and retain users beyond the existing crypto community, leveraging its integrated features and partnerships to achieve Coinbase's ambitious goals.

(Source: https://www.newsbtc.com/news/coinbase/coinbase-unveils-super-app-to-expand-crypto-access-details/)