Coinbase is planning to develop a new cryptocurrency app store for decentralized apps (dApps). Their chief executive officer Brian Armstrong announced plans to build a crypto app store.
We see crypto quickly mature from its initial use case of trading bitcoin to trading thousands of new assets. The adoption of new use cases like Decentralized Finance (DeFi), NFTs, smart contract, Decentralized Autonomous Organization (DAOs) and more. Coinbase CEO said.
As more economic activity will take place on crypto rails. Coinbase is a trusted bridge to the crypto economy today, he said. Our centralized Finance (CeFi) product will continue to play a critical role in the crypto economy. Decentralization will be a major growth area.
Our CeFi, products will continue to play a critical role in the growth of the crypto economy.”
The main aim is to make it easier for new assets to join the exchange and extend more products to a global market.
“Apple didn’t attempt to build every app for the iPhone; it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto,” said the post.
For the process of decentralization, Coinbase wants to list more assets faster. They also plan to move from product-focused on the US, UK, EU, and Japan onto the rest of the world. They want to develop an app store for crypto applications and give their users access. There are now 10s of billions of dollars worth of activity running on dApps.
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Eventually, any app built on decentralized crypto rails will be accessible to users of the Coinbase app. The change will be embracing new wallet technologies, including those that allow for safe and easy self-custody.
