Recently, Coinbase announced that it will be focusing on catalyzing the popularization of crypto assets and protocols for Web3.
The cryptocurrency exchange announced via blogpost that its current goal is to help its customers to transition to Web3 by boosting the most important building blocks. At first, the company will prioritize the upgrade of its digital wallet in terms of safety. This was announced in the context of recent news about hackers trying to lure users to join shady websites by airdropping crypto into their digital wallets.
Coinbase recently rolled out its decentralized application (DApp) blocklist and spam token management solutions for its wallet. The company’s proprietary wallet can conceal suspect assets from the users’ home screen, especially those who are notoriously malicious. Also, wallet users are enabled to report any suspicious activity happening in the Coinbase Wallet.
Another future point of focus for Coinbase will be NFTs or non-fungible tokens. Coinbase intends to leverage NFTs as a bridge to accelerate crypto adoption. The digital asset exchange will also leverage its cloud-based solutions to enable developers to build the infrastructure for Web3.
According to the exchange’s Chief Policy Officer, Coinbase worked to address a number of important areas that the company believes to be important for any worldwide regulatory framework. The crypto exchange points to stablecoins as the substructure for a new age of financial services innovation.