Coinbase moots crypto app store

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Last Update: September 21, 2022

2 mins read

Coinbase has mooted plans to create a dedicated crypto app store, as well as expanding on its product offering by rolling out new initiatives and services.

The US-based crypto exchange has expressed a determination to help boost the economy for digital assets which, according to CEO Brian Armstrong, is still in its early stages.

The focus of this portfolio growth seems to fall on a dedicated app, with Armstrong drawing parallels between what Apple did and what Coinbase now intends to carry out.

“Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto”, the chief executive explained in a recent blog post.

The blog explained that Coinbase is looking to continue adding new assets with new listings. However, in a previous statement, Armstrong made it clear that new listings do not necessarily mean endorsement.

To reflect that, Coinbase is now planning on an “experimental zone for new assets”. To expedite listings, Coinbase is also reducing the legal review from 70 to 12 questions.

Coinbase noted that legal issues will probably stop the crypto exchange from listing many of the currencies, but it may still provide some essential functionality such as wallet custody and transfers.

Coinbase wants to empower its own app to “support any app built on decentralized crypto rails”, which is another reference to how Apple allows developers to build apps that are specific for its dedicated software.

As Coinbase is upping the pace of new listings, the company may be wise to also think about regulatory headwinds.

Binance, a rival exchange, is now beleaguered in almost all corners of the world with Canada, Japan, the UK and the US going after locally-registered (or non-registered) entities, which Binance Group has said “are not directly connected with it”.

Coinbase continuing to improve its products is good news for consumers looking to snap up a currency quickly and use it at an igaming website. Some great choices here include Bitcasino, 1xBit and FortuneJack to name a few.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.
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