Coinbase Rebrands Wallet to 'Base App,' Unveiling Universal Onchain Account and Social Platform

Coinbase, through its Base brand, has officially rebranded its Coinbase Wallet to the "Base App," transforming it into an "everything app" designed to serve as a universal account for crypto activities, social interaction, and decentralized applications. This strategic move, announced during Coinbase’s “A New Day One” event, aims to simplify onchain engagement and broaden access to the cryptoeconomy for a wider audience. The app, which entered beta for waitlisted users on July 16, integrates functionalities like managing apps, checking earnings, buying crypto, and funding wallets directly from Coinbase balances.

Base itself is an Ethereum Layer 2 (L2) network incubated by Coinbase, focused on providing a secure, low-cost, and developer-friendly environment for building decentralized applications (dapps). The underlying Base Chain leverages Ethereum's security and aims to onboard over a billion users into the cryptoeconomy, with no plans to issue a new network token. This foundational layer supports the new Base App, ensuring scalability and reduced transaction fees for users.

The newly launched Base App bundles a comprehensive suite of features, including a social feed powered by the Farcaster protocol, allowing creators to tokenize posts and earn rewards. Users can also engage in instant USDC payments via NFC, utilize encrypted XMTP messaging, and access hundreds of mini-apps ranging from games to prediction markets. Upon sign-up, users receive a "Base Account," a smart wallet designed for seamless navigation across various apps and chains.

Coinbase's CEO Brian Armstrong emphasized that this revamp aligns with the company's mission to expand economic freedom and position USDC as a leading stablecoin. The integration of social features with traditional trading aims to attract users beyond crypto enthusiasts, making onchain activity as intuitive as using any other mobile application. Notably, Coinbase also introduced Base Pay, a checkout service enabling near-instant USDC transactions, with Shopify merchants already able to activate this feature.

The core promise of the new platform is encapsulated by the Base tweet:

"Base Account: Your universal account. Manage apps, check earnings, buy crypto, and fund your wallet using balances on Coinbase, all from one simple homepage." This statement underscores the app's ambition to consolidate diverse functionalities into a single, user-friendly interface. The company plans a gradual public rollout following the beta phase, inviting developers to integrate "Sign in with Base" into their products, further expanding the ecosystem.