- The corporation disclosed that Coinbase will be allowing its exchange customers to send and receive ETH, MATIC, and USDC, on Polygon, and they’ll also be able to send and receive USDC on Solana.
- Coinbase explains that there is an increased cost of usage of the ecosystem for both individual users and institutions due to gas fees that have made the process of funding wallets complex.
- Coinbase has confirmed that they are building a—in their words, “immediately accessible, intuitive, and familiar” application.
Among all the other exciting news the world is witnessing around the web3 and blockchain industry, there is a major update presented by Coinbase, the cryptocurrency exchange platform.
The recent post of Coinbase went on to shock the entire crypto community. The corporation disclosed that Coinbase will be allowing its exchange customers to send and receive ETH, MATIC, and USDC, on Polygon, and they’ll also be able to send and receive USDC on Solana.
But Why? I Mean, Just Why?
The crypto exchange company has explained in detail why they are desperately trying to move on from using Ethereum to these newer counterparts.
Coinbase explains that there is an increased cost of usage of the ecosystem for both individual users and institutions due to gas fees that have made the process of funding wallets complex.
Their announcement got viral, with hundreds of fans and critics commenting on their posts regarding the news.
The company has also stated that they are going to make the process very simple and easy by introducing the feature of allowing customers to convert their fiat money into crypto coins and fund their Polygon and Solana wallets in far lesser time and far lesser costs.
Wait? There’s An App Too?
A true company is a company where innovation never stops. This is true in the case of Coinbase. They confirmed that they are building a—in their words, “immediately accessible, intuitive, and familiar” application.
This app is going to have multiple features for user experience. Some of them are:
- Multichain support, (now includes Solana)
- One tap access to DeFi positions
- Dark mode
- Real-time price charts
In short, this whole application is built to give you a taste of what web3 can do, also by staying in your pocket.
Source: https://www.thecoinrepublic.com/2022/06/24/the-legendary-collaboration-between-coinbase-and-polygon/