Coinbase Global (NASDAQ: COIN) revealed a new application that will serve to replace its Coinbase Wallet and combine an even wider array of services.
Released on Wednesday, the so called “everything app” includes trading, payments, messaging, social media, identity, and mini-apps. All functions run on Coinbase’s public blockchain, Base, which is built on Ethereum.
Coinbase joins the global race to develop a super app through this application—similar to China’s WeChat and Alipay. These apps bundle multiple services into one platform and are central to daily life in China. However, Western tech giants like Meta Platforms (NASDAQ: META) and X have failed to replicate this model. Coinbase hopes to change that.
The company designed Base App not only for crypto enthusiasts but also for mainstream users. Crypto trading has proven volatile, making the firm overly reliant on speculative activity. Therefore, it now seeks to diversify by driving real-world utility through its blockchain network. The Base App represents that strategy.
As part of the launch, Coinbase introduced two supporting features: Base Account and Base Pay.
Base Account offers a streamlined identity verification system for the app, while Base Pay provides an express checkout service for USDC payments. Furthermore, developed with Shopify (NASDAQ: SHOP) (TSE: SHOP), Base Pay allows one-click USDC purchases across the web.
Additionally, Coinbase will expand Base Pay to physical stores later this year with tap-to-pay functionality. Alex Danco, a product manager at Shopify, said tens of thousands of merchants already support Base Pay. Every merchant on the platform will also gain access by year-end. Furthermore, U.S. consumers who use USDC on Base will receive 1 per cent cash back.
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Coinbase wants to use BaseApp to redefine content monetization
Base, the underlying blockchain, has already gained support among developers.
JPMorgan recently announced a deposit token using the Base network. Base settles payments in under one second for less than one cent, making it faster and cheaper than many alternatives. This speed and affordability consequently give it a chance to succeed where other crypto payment platforms have failed.
Coinbase also wants to use Base App to redefine content monetization. The company sees a new economic model emerging for creators. Creators can publish content, monetize it directly, and maintain control over identity and data using the integrated social and messaging features. To jumpstart adoption, Coinbase will fund creator rewards and waive USDC transaction fees in app-based chats. However, this initiative is not expected to produce immediate revenue.
The company’s broader product rollout coincides with a regulatory shift in the United States. Thanks to pro-crypto policies under the Trump administration and clearer crypto legislation expected from Congress. Last month, it launched its first credit card with American Express. Shopify also rolled out USDC-based payments through Coinbase and Stripe. These developments suggest growing support for mainstream crypto payment tools.
CEO Brian Armstrong has set ambitious goals for Coinbase. He wants USDC, issued by Circle Internet Group Inc (NYSE: CRCL), to surpass Tether’s USDT as the world’s top stablecoin. Additionally, Armstrong aims to make Coinbase the top financial services app globally within five to ten years. The Base App plays a central role in that vision.
In recent years, Coinbase has faced pressure to adapt. Its dependence on trading revenue left it vulnerable to market downturns. It hopes to craft a more resilient business model through this pivot towards broader utilities like such as payments, identity, and creator tools.
