San Francisco-based cryptocurrency exchange Coinbase has added WalletLink functionality to allow customers to use dApps within the firm’s wallet app.
One of the most intriguing dApps that will undoubtedly entice users is IDEX, which is currently the world’s largest decentralised exchange (DEX).
IDEX currently facilities around $1 million of daily trade volume with a focus on new projects that have only recently moved past the ICO stage.
WalletLink will be available to desktop browser users as well as mobile users.
Aside from IDEX, customers will also be able to access Compound – an on-chain borrowing and lending platform – as well as margin trading platform dYdX and the Maker stablecoin.
We’re thrilled to announce WalletLink! Now you can use dapps on any desktop browser while keeping your funds safe in your mobile wallet. https://t.co/hKkV8DBEb9
— Coinbase Wallet 🛡️ (@CoinbaseWallet) August 22, 2019
While it certainly seems like a positive step for Coinbase and its user base, it will be interesting to see how the company combats the strict regulatory frameworks in terms of decentralised and margin exchanges.
The Securities and Exchange Commission (SEC) famously clamped down on EtherDelta, which at the time was a market-leading DEX, while margin exchange BitMEX has found a safe haven for itself in the Seychelles – far away from the watchful eyes of US regulators.
Coinbase’s recent gung-ho approach is a far cry from 2017, when the exchange listed just Bitcoin, Ethereum, and Litecoin for users to purchase before adding Bitcoin Cash after the hard fork.
The exchange has also listed a variety of altcoins over the past year, suggesting that regulatory scrutiny of the industry is not as prevalent as it once was.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.