Coinbase is looking to bolster its global presence, announcing it will focus on launching new products “in most countries by default” moving forward, including a crypto app store.

Top U.S.-based centralized crypto exchange, Coinbase, has announced plans to launch a crypto app store offering third-party developed products.

A June 30 blog post penned by Coinbase CEO Brian Armstrong revealed its plans for an app store, stating that while “the crypto economy is still in its early stages, [...] it is clear that every year more and more economic activity will take place on crypto rails.”

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.

Armstrong estimated there is now “[tens] of billions of dollars of economic activity running on DApps."

The post also emphasized Coinbase’s commitment to expanding the number of crypto assets it supports and increasing the speed of new listings, announcing plans to reduce its legal review for prospective listings and launch an “‘experimental zone’ for new assets.”

The legal review process will be reduced from 70 questions to 12.

While noting that many assets may not meet Coinbase’s criteria to be listed for trading due to regulatory reasons, the exchange believes it can provide basic wallet functionality such as custody and transfer services for “most assets.”

The exchange also states the Coinbase app will soon support “any app built on decentralized crypto rails,” suggesting the exchange’s users may soon be able to interact with the burgeoning DeFi ecosystem through Coinbase’s application.

Armstrong also highlighted Coinbase’s desire to become a “global” company. While the post characterizes Coinbase as currently focusing on delivering its products within “a narrow set of regions,” the exchange hopes to launch new products “in most countries by default” moving forward.

Coinbase’s new plans come as regulators are increasingly taking aim at globally operating crypto exchanges, with the United Kingdom’s Financial Conduct Authority ordering Binance to cease all “regulated activities” in the jurisdiction.

Responding to a broader crypto crackdown in China, Huobi banned Chinese users from accessing its derivatives products, in addition to retail traders from the U.K.

In April, the financial regulator of the Canadian province of Ontario accused Bybit and Kucoin of violating local securities laws, with Bybit also coming under fire from Japan’s Financial Services Agency the following month.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Recommended content


Recommended Content

Editors’ Picks

IRS says crypto staking should be taxed in response to lawsuit

IRS says crypto staking should be taxed in response to lawsuit

The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.

More Cryptocurrencies News
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.

More Solana News
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.

More Ethereum News
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election. 

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP