Coinbase dives deeper into Web3: Launches Coinbase Pay

  • Mar 18, 2022 at 10:35 am
  • San Francisco-based cryptocurrency exchange Coinbase has announced that consumers can now take advantage of a new feature to fund their non-custodial Coinbase portfolio more easily than ever before.  New product  As part of its mission to bring cryptocurrency products to the general public, Coinbase launched Coinbase Pay. The company explains that the solution is an extension of its existing digital asset portfolio, which allows users to interact with Web3 applications. Coinbase Pay also provides access to the NFT universe:  “Start your NFT collection, gain profitability through DeFi lending protocol and grow your crypto portfolio with hundreds of thousands of tokens backed by Decentralized Exchanges (DEX).” The exchange claims that the wallet was previously cumbersome for novice users who had to go through many steps and switch between different apps. “Coinbase removes those steps and makes it easy and intuitive for anyone to participate in DeFi or buy NFT with just a few clicks,” the organization said.  To use the product, new Coinbase wallet customers must first link their self-service wallet to their Coinbase account. “We are constantly building new features into Coinbase Wallet to make it the most convenient and affordable self-service portfolio in the world and to make it easier for more users to get started in the Web3 world. We will also continue to expand Coinbase Pay to bring the benefits of seamless fiat integration to the crypto ecosystem,” the exchange concluded.  Coinbase launches its NFT marketplace  Earlier this week, the company announced that it would soon showcase its NFT marketplace, adding that hundreds of developers were excited to join the project. Coinbase says the focus is on “social features”, which aim to increase interaction between artists and consumers. Previously, the exchange worked with Mastercard to facilitate the growth and adoption of NFT. The company hopes this initiative will open up new ways for customers to purchase digital collectibles with their Mastercard cards in the near future:  “Through our collaboration with Mastercard, we will be able to provide a better customer experience at Coinbase NFT and plan to work on finding ways to bring this opportunity to a wider ecosystem through Mastercard’s global size and network.”