Coinbase Renames Base App Back to Coinbase Wallet, Shifts Focus to Trading
Coinbase Renames Base App Back to Coinbase Wallet
Coinbase is changing the name of its Base App back to Coinbase Wallet. The move happens after just over a year, as the app's social features did not meet expectations. The company now wants the wallet to focus on trading and access to assets across multiple blockchain networks.
Main Takeaways from the Rebrand
- The self-custodial wallet, where users control their own keys, now supports more than 10 networks, including Robinhood Chain and Monad.
- New features include perpetual futures powered by Hyperliquid, prediction markets, and tokenized stocks.
- Coinbase calls the wallet a "test kitchen" for products not available on its main centralized exchange.
- The wallet promotes itself with "no KYC, no waiting, and no borders," though some features have geographic restrictions.
Ryan Kass on the Product's New Direction
Ryan Kass, Head of Coinbase Wallet Product, explained that the Base App evolved into a broader trading platform. This made the Coinbase Wallet name a better fit. He said the wallet will give users access to all onchain finance, while Base remains central for asset discovery.
Coinbase CEO Brian Armstrong had previously noted that the Base app's social experiment "didn't quite work." Base creator Jesse Pollak also handed over leadership after acknowledging that social features fell short.
Facts About the Updated Wallet
The wallet is now called Coinbase Wallet again. It supports Base, Robinhood Chain, Solana, Bitcoin, Ethereum, BNB Chain, Monad, Optimism, Arbitrum, Polygon, and Avalanche. All trading happens onchain, allowing users to follow other traders.
Assets are available by default on supported chains, but scam or malicious tokens are hidden. New markets and assets go through product and compliance reviews before appearing.
Unanswered Questions on Fees and Users
Coinbase makes money from trading and product fees, but it did not share details on the fee structure. The company also did not disclose whether the shift toward trading has increased user numbers for the wallet.
Why This Rebrand Matters for Users
The change positions Coinbase Wallet as a more comprehensive tool for traders who want to manage assets across different blockchains without relying on a centralized exchange. It offers early access to new assets and features like prediction markets.
Future Expansion Plans
Coinbase plans to continue expanding the number of networks supported by the wallet. The wallet will act as a place to test new products that may not be available on Coinbase's main platform.
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