Coinbase Eyes 1 Billion Users with "Everything App" Base, Reshaping On-Chain Engagement

Coinbase, a leading cryptocurrency exchange, has launched its ambitious "Base App," a significant evolution of its Coinbase Wallet, aiming to become an "everything app" for the on-chain economy and onboard one billion users into the cryptoeconomy. Unveiled at a major event in Los Angeles on July 16, 2025, the new platform integrates a comprehensive suite of features including wallet functionalities, trading, payments, social media, and mini-applications, all powered by Coinbase's Ethereum Layer 2 network, Base. This strategic move signals Coinbase's intent to diversify beyond its core trading revenue and establish a dominant presence in the burgeoning decentralized web.

The Base App introduces several key features designed to simplify user interaction with blockchain technology. Users gain a portable digital identity through the "Base Account," while "Base Pay" offers one-click USDC stablecoin payments, including integrations with major platforms like Shopify and a 1% cashback incentive for U.S. users. Furthermore, the app incorporates a social feed leveraging the Farcaster protocol, enabling creators to tokenize their posts via Zora and earn directly from their content, fostering a new model for digital monetization.

Coinbase CEO Brian Armstrong has characterized the Base App's launch as a "Netscape moment" for the crypto industry, emphasizing its potential to make on-chain activity as accessible as traditional online interactions. He stated, "We think crypto is the most important technology to help go do that," highlighting the company's long-standing mission to increase economic freedom globally. This vision aligns with the app's focus on creating a seamless user experience, moving away from complex crypto interfaces towards intuitive, everyday utility.

The strategic shift reflects Coinbase's broader ambition to become the "number one financial services app in the world" within the next five to ten years, as stated by Armstrong. By building on the open-source OP Stack and fostering an open ecosystem, Coinbase aims to attract a wide array of developers and applications, enhancing the network effect of the Base platform. This approach seeks to bridge the gap between traditional finance and the decentralized world, offering a compliant and user-friendly gateway.

While the Base App is currently in beta for waitlisted users, its comprehensive feature set and Coinbase's robust infrastructure position it as a formidable contender in the race to mainstream crypto adoption. The company's push into areas like social media and creator economies, alongside its established trading services, underscores a bold strategy to redefine how individuals interact with digital assets and participate in the on-chain future. However, regulatory considerations, particularly in regions like the EU and Canada where certain rewards are unavailable, remain a factor in its global rollout.