Cryptocurrency exchange Coinbase launches Web3 wallet

Cryptocurrency exchange Coinbase has launched a Web3 wallet for the Coinbase Prime platform

In case of device loss, users can restore wallets, the company noted

Cryptocurrency exchange Coinbase has launched a Web3 wallet integrated into the Coinbase Prime platform, the company said on its website.

Users are now able to store assets from supported networks not yet available on Prime Custody, interact with decentralized applications and smart contracts, and trade non-fungible tokens (NFTs), the company specified.

"Store any assets across the nine supported networks, including NFTs and DeFi tokens. There are no restrictions on what types of tokens can be stored. Management and other interactions with smart contracts are supported by default," the exchange said.

In September, Coinbase raised $57 million for its cryptocurrency lending platform. The company plans to borrow cryptocurrency assets from users and then lend them to "institutional trading customers."

In August, Coinbase received regulatory approval to trade cryptocurrency futures in the US. Allowing US customers to access regulated crypto derivatives will allow more people to gain safe access to the country's cryptocurrency market, the company said.

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