In a recent blog post, the cryptocurrency exchange platform Coinbase, disclosed that its exchange customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and they’ll also be able to send and receive USDC on Solana.
Better user experience with the new polygon integration
The crypto exchange company noted reasons why they would be doing away with Ethereum. It explained that the increasing cost of usage of the ecosystem for both individual users and institutions due to gas fees have made the process of funding wallets complex.
The post went on to reveal that Coinbase will be simplifying the process of funding crypto wallets by allowing customers convert fiat to crypto and fund their Polygon and Solana wallets in minutes and at a lesser cost.
Over the next month, qualified Coinbase Exchange customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and they’ll be able to send and receive USDC on Solana. Later on, support for more tokens and networks will be included.
Coinbase said it has removed the complexity of managing different balances of a single asset across networks with one comprehensive, unified balance.
The Polygon integration also signifies the first time Coinbase has allowed the sending and receiving of these assets on an L2.
Coinbase introduces new mobile wallet app
In what the company called a familiar but distinct innovation, Coinbase confirmed that it looked to their foundational and standing design principles to build a easy, refined user experience that feels “immediately accessible, intuitive, and familiar.”
The app would also include amazing multichain support which now includes Solana, one tap access to view your DeFi positions, dark mode, and real time price charts, the new Wallet app puts the power of web3 in your pocket.
Its newly integrated dapp browser also aims to make the ever-growing world of dapps more accessible. The new dapp browser provides a curated list of popular dapps from all networks that Coinbase Wallet supports, making it easier to find and explore new dapps
Finally, the new quick action buttons on the home screen creates one-tap access to DEX swaps, sending or receiving crypto, and funding Coinbase Wallet with Bitcoin, Ethereum, Solana, and hundreds of other assets using a debit card or bank account.