After its recent IPO, Coinbase is looking to refocus on the core of its business, namely cryptocurrencies and their ecosystem. Thus, the centralized exchange platform has just announced its goals for the coming months.
Coinbase sees things in a big way
In a June 29 release, Coinbase CEO Brian Armstrong outlined the three major areas of evolution envisioned by the exchange platform.
“Coinbase is today the trusted gateway to the cryptoeconomy, but we need to become the place where people also go to actually participate in the cryptoeconomy.”Brian Armstrong, Coinbase CEO
Initially, Coinbase wants to expand its platform by offering more assets. Thus, the goal is to list all legal assets and let the user manage their own risk level.
In a second step, in order not to miss any new trendy crypto-currencies, the exchange wants to implement an “experimentation zone” in which users could find riskier assets, such as those with low liquidity or even bugs in the code. Obviously, this zone would be separated from the traditional assets and verified by Coinbase, and the risks involved will be clearly specified.
At the same time, Coinbase also wants to improve its wallet by offering new features. First of all, the company wants to generalize the compatibility of this one on the basic features such as storing, sending or receiving any cryptocurrency.
In addition to that, and in view of the constant evolution of the DeFi ecosystem, Coinbase wants to integrate access to the different Dapps that make up the ecosystem directly from its application.
Thanks to this, users will be able to interact simply with the various protocols that make up DeFi, such as decentralized exchanges or lending platforms.
The goal is clear: to make the Coinbase app a sort of “crypto app store” that would centralize access to the DeFi in a single application.
Finally, the exchange wants to globalize its activity by extending it to more countries, while remaining in close collaboration with local regulators. Indeed, the platform does not wish to be subject to sanctions as was recently the case for Binance in the United Kingdom.