Starting today, a select group of Coinbase users will get access to Ethereum-based dapps directly from the company’s app.

Coinbase (NASDAQ: COIN) has launched new features that allow users to access Web3 and dapps directly from the Coinbase app. The new dapp wallet and dapp browser power this functionality in the app, and effective today, some lucky users can buy NFTs on marketplaces like Coinbase NFT and OpenSea, trade on Decentralized Exchanges like Uniswap and Sushiswap, and borrow, lend, or swap through DeFi platforms like Compound and Curve. (Coinbase Blog)

Web3 for everyone

“We want to enable everyone to seamlessly and safely participate in web3, and today’s launch is another step on that journey,” the crypto exchange wrote in their blog post announcing the new features. “We’re rolling out the new dapp wallet and browser experience in the US on Android first to a small subset of users, and plan to expand to all users and platforms soon.”

The dapp wallet is also secured by a key that can be split between Coinbase and the user in a co-custodial arrangement. If the latter loses access to the device, the key to the dapp wallet is still safe and the company can assist in recovery through its live support.

As a result, the user need not have to bother with a recovery phrase for securing their wallet. This facility is enabled by multi-party computation (MPC) technology.

The company, which is America’s largest crypto exchange, has had a busy month. On May 4 it launched its much-anticipated Coinbase NFT marketplace in a beta version.

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