Photo credit: Samyukta Lakshmi/Bloomberg

Cryptocurrency exchange Coinbase has launched a new web app that lets users users manage their various on-chain wallets and activities.

The Coinbase Wallet app, accessible on both desktop and mobile devices, allows users to connect multiple wallets and view their crypto holdings, non-fungible tokens (NFTs), and positions on different decentralized finance (DeFi) platforms across different chains, such as Bitcoin, Solana, and Ethereum-based networks, in one place, the company said on July 11.

It also enables users to trade tokens across Base, Arbitrum, Optimism, Binance Smart Chain (BSC), Polygon, and Avalanche from any of their wallets.

The new product aims to solve issues with manual tracking across different platforms and trading activities across various chains.

“Many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically,” said Sid Coelho-Prabhu, senior director of product management at Coinbase.

He added that the issue is compounded by users often juggling several crypto wallets, making it difficult to get a complete picture of their holdings. This challenge extends to desktop users who have been limited by the constraints of browser wallet extensions.

Coinbase’s new offering also integrates with their smart wallets, designed to make it easier for newcomers to enter the crypto space without prior knowledge of blockchain technology. By consolidating features from existing products like Coinbase NFT, the app also provides users with tools to create and share NFT mints.

This move is part of Coinbase’s broader “Onchain Summer” initiative, aimed at promoting on-chain engagement and making crypto more accessible.

Coinbase is not the first to introduce a Web3 “super app”-like product, with The Open Network (TON) blockchain also venturing into this space. Leveraging Telegram’s massive user base, TON has experienced substantial growth in 2023, fueling optimism that it could evolve into a comprehensive platform encompassing social interactions, gaming, and financial tools. This aspiration was bolstered last year by an “eight-figure” investment from MEXC Ventures, specifically aimed at realizing TON’s vision of an all-in-one Web3 platform.