Coinbase Wallet Launches Standalone Browser Extension

Coinbase continues to look for more optimization. In a world where versatile wallet tools like Metamask have had immense prevalence for crypto users, the attention and investment into standalone wallets is increasing. Of course, in enters Coinbase, one of the most prevalent names in the world of crypto exchanges.

The exchange has been scaling up from providing simple exchange capabilities this year through a number of initiatives. The list of supported tradable tokens on the platform continues to grow rapidly, a new NFT marketplace has millions of users on the waitlist, and now there are new initiatives at Coinbase to further the Coinbase Wallet capabilities.

This Browser Does More Than Just Browsin’

A press release to kick off the week for Coinbase has shared the firm’s latest announcement: the Coinbase Wallet is now available as a full standalone browser extension, available on the Chrome webstore.

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The exchange first introduced a downloadable browser extension back in May. However, users were only allowed to link wallets to the extension, rather than having direct access. This week’s update takes the mobile app out of the equation, and will allow Wallet users to have streamlined access towards all wallet capabilities, including connections with NFTs, DeFi platforms, DEXes, and more.

Existing Wallet users can now drop WalletLink and download the standalone extension, allowing consumers to import existing self-custody Ethereum-based wallets or create a new one. While many blockchain platforms will of course still require specific wallets, (such as the Terra ecosystem or many Tezos applications, for example) there is no doubt that Coinbase is looking to take some market share from leaders like Metamask.

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After a rougher start to the initial public trading period that $COIN faced earlier this year, the exchange is looking to right the ship, and has showed strong performance in the last quarter of the year. | Source: NASDAQ: COIN on

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What’s In A (Coinbase) Wallet?

Looking forward, the exchange has stated that they “will continue working to empower everyone to use dapps and web3 by building the easiest-to-use and most accessible self-custody wallet in the ecosystem.”

Self-custody has been a heightened topic in crypto, as consumers balance the reliance of emerging DeFi products with the old adage, “not your keys, not your coins.” Accordingly, many firms have shifted focus to potential opportunities with wallets. Jack Dorsey’s Square is reportedly working on a hardware wallet with self-custody features. User interface, security, device compatibility, and multichain support are the priority features for these platforms – with room for optimization relative to the current landscape.

It’s very likely that the wallet landscape and experience one year from now looks substantially different than it does today.

Related Reading | Bitcoin Cemented At $60K? Why BTC Could Smash All Resistance

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Browser-based DeFi wallet XDEFI launches public version

XDEFI Wallet, a browser-based wallet service for decentralized finance (DeFi) and nonfungible token (NFT) users, launched its public version on the Chrome Store.

Similar to the widely-used browser extension wallet MetaMask, the XDEFI Wallet supports DeFi applications across multiple blockchains. According to the announcement, the browser wallet works with the Ethereum (ETH) network and other Ethereum Virtual Machine-compatible chains.

Supporting THORchain and Terra, XDEFI Wallet has plans to include Avalanche, Solana and Arbitrum into the mix.

In a previous conversation with Cointelegraph, Émile Dubié, co-founder and CEO of XDEFI Wallet, argued that cross-chain compatibility was necessary to ensure better utilization of Web 3.0.

“No need to switch from a wallet to another, no need to deal with several seed phrases — just use the same vehicle to access different destinations,” Dubié told Cointelegraph at the time.

XDEFI Wallet features an “Ape Mode” that reportedly utilizes a proprietary gas algorithm to offer faster transaction throughput for users. According to Dubié, Ape Mode will be an “indispensable edge” for DeFi and NFT users.

Related: OP Crypto Capital founder cites gaming, Web 3 as drivers of crypto economy

Given the focus on DeFi and NFTs as part of the strategy to challenge MetaMask, XDEFI Wallet also features some “built for NFT” features.

According to the announcement, XDEFI offers automatic in-wallet NFT detection capabilities as well as a grid display for collectibles.

As a wallet platform, XDEFI will also enable crypto trading with users able to make fiat purchases for cryptocurrencies via payment gateway service Ramp.

XDEFI Wallet previously received backing from investors like Mechanism Capital, Sino Global Capital, Alameda Research, and CoinGecko among others to the tune of $6 million.