Coinbase Global redesigns mobile app to make Web3 more accessible to users (NASDAQ:COIN)

Coinbase Global (NASDAQ: CURRENCY) said on Wednesday it has redesigned its mobile app to include a new decentralized application (“dapp”) browser that makes it easier for its users to search for decentralized finance (“DeFi”) protocols as well as non-fungible tokens.

The The updated mobile app, which aims to funnel users into the Web3 ecosystem, begins rolling out on Wednesday and more users will have access to it in the coming weeks, the crypto exchange said in a statement.

Specifically, on the browsers home screen, there is a list of suggested ethereum (ETH-USD) dapps ranked by those in DeFi, NFT, decentralized exchange (“DEX”), games to earn and more, according to a video presentation by Gary Simpson, Senior Software Engineer at Coinbase (COIN).

As part of its efforts to make dapps more accessible, “quick action buttons on the home screen provide one-click access to DEX swaps, send or receive crypto, and fund your Coinbase wallet with Bitcoin (BTC-USD), Ethereum (ETH -USD), Solana (SOL-USD) and hundreds of other assets using a debit card or bank account,” Coinbase said.

The move came after Coinbase (COIN) announced last year that it would acquire BRD, a company with its own crypto wallet.

Meanwhile, Coinbase (COIN) shares are falling ten% in afternoon trading as its fees come under pressure from rival Binance.US, which previously introduced zero-fee trading for bitcoin (BTC-USD). Nonetheless, Coinbase’s (COIN) move to expand user access to Web3 could help boost its transaction revenue.

Additionally, bitcoin> back to below $20,000 in a choppy trading day, recently changing hands at $19.5,000. Perhaps bitcoin’s intraday drop is also impacting Coinbase (COIN) stocks.

Previously (May 23) Coinbase Wallet to support token trading on BNB Chain and Avalanche.