Coinbase Focuses on Digital Wallet, NFTs

Coinbase recently made some pretty exciting announcements. Check out the latest reports about the crypto exchange below.

According to the latest reports, Coinbase said it’s focusing on accelerating the adoption of crypto assets and Web3 protocols.

In a new company blog post, the second-largest digital asset exchange in the world says its goal is “serving as the bridge” to Web3 for its customers by “supercharging” the key building blocks.

As the online publication the Daily Hodl notes, first, Coinbase says it will focus on upgrading the safety of its proprietary crypto wallet.

This move is taking place as bad actors have recently been airdropping tokens into user wallets, attempting to lure them into websites that would compromise their safety.

“We recently announced the DApp [decentralized application] blocklist and spam token management tools for Coinbase Wallet… Coinbase Wallet hides assets from your home screen that are known to be malicious and gives you the ability to report suspicious tokens that appear in your wallet.”

Coinbase also says it will focus on non-fungible tokens (NFTs) as a means of furthering crypto adoption.

The exchange will also use its cloud-based services to help developers create the Web3 infrastructure.

Penned by Coinbase’s chief policy officer Faryar Shirzad, the exchange has been addressing several key areas that it says should be considered in any global regulatory framework.

Coinbase names stablecoins as the foundation for a “new era of innovation in financial services.” On the other hand,, Shirzad writes that Coinbase has some issues with the FSB’s perspective on stablecoins.

“We are concerned, however, about the breadth of the FSB’s use of the term ‘stablecoin arrangement.’ As used in the Reports, this term captures a wide range of activities, many of which are well outside the typical purview of financial market infrastructures, such as validating transactions on a blockchain network.”