Coinbase launches Coinbase Pay to support Web3

Coinbase, one of the leading cryptocurrency exchange platforms, has announced the launch of a new feature that will give users better convenience when funding their non-custodial Coinbase Wallets.

Coinbase launches a Coinbase Pay feature

Coinbase has launched a Coinbase Pay feature that will be integrated as a Chrome browser extension. The feature will allow users to interact closely with decentralized finance (DeFi), decentralized exchanges (DEX) and non-fungible tokens (NFTs).

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

In the announcement, Coinbase said,

Kickstart your NFT collection, earn yield through DeFi lending protocols, and grow your crypto portfolio with hundreds of thousands of tokens supported via decentralized (DEXes).

Coinbase also said that the wallets available in the market failed to meet the needs of new users due to the complex process of switching between different applications. The exchange noted that in just a few clicks, a user could engage in DeFi and NFTs.

The exchange also added, “We are continuing to build new features into Coinbase Wallet to make it the most user-friendly and accessible self-custody wallet in the world, making it easier for more users to enter the world of Web3. We will also continue to expand Coinbase Pay to bring the benefits of seamless fiat onramp to the crypto ecosystem.”

Coinbase NFT launching soon

Coinbase is launching an NFT marketplace “soon”. Coinbase announced the launch of Coinbase NFT last year, and the waitlist for this marketplace has attracted millions of users. Recently, the exchange stated that it was working with hundreds of creators to support the launch of this marketplace.

Coinbase noted that its marketplace would be different from what is currently available. It will focus on boosting interactions between the artists and the users. Before this, the exchange had announced working together with Mastercard to boost the growth of NFTs on the platform. Through this partnership, users would also buy NFTs through their Mastercard.

At the time, Coinbase said, “Thanks to our work with Mastercard, we’ll be able to provide a better customer experience on Coinbase NFT, and plan on working to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network.”