Coinbase introduces new features for NFT trading and dApps

Coinbase, one of the major crypto exchanges, has launched new services for the users. Exchange’s focus is on Web3 integration. A new feature has been introduced on Coinbase’s app for access to Ethereum based dApps. With this, users will be able to access the Non-Fungible Token (NFT) Marketplace and Decentralized Exchanges (DEX) through this app.

Decentralized apps (dApps) run on a blockchain network. In order to use these apps, users have to download them instead of dApp The developer has to pay in cryptocurrencies. These apps are not controlled by any one authority. The popularity of these apps is increasing among the Web3 community. Coinbase has launched its new dApp wallet and browser. This will allow users to access Web3 services through the exchange’s app. The new dApp wallet will be secured by the firm’s own team and network.

Coinbase’s total trading volume in the first quarter of this year was about 44 percent decreased Is. Commenting on the quarterly results, the head of the exchange Brian Armstrong said trading volume between January and March stood at $309 billion, which is significantly lower than the trading volume of about $547 billion in the fourth quarter of last year. Coinbase had set a revenue target of $1.5 billion for the first quarter, but in comparison, it managed to achieve only $1.17 billion.

Armstrong, who was on a recent visit to India, also explained the reason for discontinuing a feature on Coinbase’s platform. The exchange announced last month that users in India will be able to buy crypto assets using UPI for digital payments. However, this feature was not approved by the government. Because of this, it had to be turned off on Coinbase’s app. “There was pressure from the Reserve Bank of India (RBI) not to use UPI. That’s why we closed it,” Armstrong said. The exchange plans to expand abroad. However, it is expected to reduce the number of users and trading volume further in the second quarter. <!–

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