America’s largest crypto exchange Coinbase has added the BNB Chain, formerly Binance Smart Chain, and Avalanche to the Coinbase Wallet’s list of supported networks.
Coinbase boasts that the added functionality will provide access to “thousands of tokens,” which constitute a “greater variety than most traditional centralized exchanges can offer.”
The added functionality to BNB Chain and Avalanche brings the total supported networks up to four, including Ethereum and Polygon.
Users of the wallet who wish to trade on-chain can use Coinbase’s own in-app decentralized exchange (DEX) on four networks. Token bridging is not yet available.
Coinbase Wallet allows users to self-custody their crypto and provides access to on-chain as opposed to the features available on Coinbase’s centralized platform.
Coinbase currently has only 173 tokens listed on its exchange.
The exchange stated that in the coming months, “we’ll be making it possible to conduct swaps on an even greater variety of networks.”
Network bridging involves sending tokens between networks without passing through a centralized exchange. Popular token bridges include Multichain and Wormhole.
Although only available for a small number of users at first, Coinbase is also rolling out its Web3 wallet and browser for the mobile app.
This will give mobile traders access to the wide ecosystem of DEXs on supported networks beyond just Coinbase’s own.
