%Cryptocurrency exchange %Coinbase Global (NASDAQ: $COIN) has launched what it calls an “everything app” designed to bring more people into the crypto sector.
The “Base App,” as it is being called, replaces the Coinbase Wallet and combines wallet, trading and payment functions as well as social media, messaging, and support for mini-apps.
Coinbase says the new app runs on the company’s public blockchain network called “Base,” which is built on the %Ethereum (CRYPTO: $ETH) %Blockchain network.
The crypto exchange is the first U.S.-based company to launch what are known as “super apps.” Popular versions of super apps, such as Alipay, already exist in China.
Typically, these everything apps bundle several different services and functionalities into a single mobile app.
They have long been viewed as the ultimate goal of financial technology companies and mega-cap tech concerns.
%MetaPlatforms (NASDAQ: $META) has attempted to integrate payments, messaging and social content into a single app, and Elon Musk has mused about creating a super app for social media platform X.
However, Coinbase Global appears to be the first U.S. company to launch such an app for consumer use.
In a news release, Coinbase said that it is aiming to reach consumers who aren’t necessarily interested in trading %Cryptocurrencies, which remains the company’s core business.
As part of the Base App launch, Coinbase also rolled out two key functions meant to help power it: an identity verification system called “Base Account” and an express checkout system for payments that employs Circle’s (NYSE: $CRCL) USDC %Stablecoin called “Base Pay.”
Base Pay is a one-click checkout feature for (CRYPTO: $USDC) payments across the web that has been developed in-partnership with e-commerce company %Shopify (NASDAQ: $SHOP).
Coinbase eventually plans to bring Base Pay to brick-and-mortar retailers with tap-to-pay support.
Shopify will offer 1% cash back in the U.S. for users who pay with USDC on the Base App later this year, the company said.
The new super app arrives as the crypto industry embraces a boom in product launches thanks to the pro-crypto policies of U.S. President Donald Trump, who is himself invested in digital assets.
COIN stock is up 55% this year and trading at $398.20 U.S. per share.
