Coinbase wallet users can now trade on DEXs, interact with Dapps

This week Coinbase announced that Coinbase Wallet users can now access their favorite decentralized applications (Dapps) using a suite of web browsers. Previously, Dapp support was limited to mobile-only, which limited user ability to interact with the Dapp economy.

Coinbase users can now access Dapps using a web browser

The user-controlled Coinbase Wallet can now be used to trade Ethereum tokens directly on web-based decentralized exchanges, such as IDEX, which opens up more opportunities to trade digital assets for Coinbase users.

Additionally, users are now able to borrow or lend on DeFi platforms such as Compound, margin trade crypto assets on dYdX, and generate Dai (DAI) by adding collateral into a Maker collateralized debt position.

The new feature is made possible by WalletLink, which acts as a bridge between Coinbase Wallet and desktop browsers. Brave, Google Chrome, Microsoft Edge, Mozilla Firefox, and Opera are supported, according to the announcement.

To access Dapps using a web browser, Coinbase Wallet users simply need to scan a QR code, which creates an encrypted link between the Wallet app and the browser. Next, users need to approve access to the Dapp on the app, and they are ready to go.

Coinbase’s impressive expansion

Not long ago, Coinbase was an easy way for new retail investors to buy bitcoin using its popular, beginner-friendly app. Today, Coinbase supports a suite of digital assets in its Coinbase app, operates an exchange for professional traders, called Coinbase Pro, and it recently acquired Xapo to become the biggest crypto custodian in the world.

In addition, Coinbase has expanded into the broader digital asset economy with the launch of the user-controlled Coinbase Wallet that enables Dapp interaction.

According to the company, the Coinbase mission is to “create an open financial system for the world,” and to “make buying and selling digital currency easy.” Through its latest addition of Dapp functionality, it has taken another step towards fulfilling that mission.