Wallets

Coinbase Wallet launches standalone browser extension to rival Metamask

Coinbase has revealed a standalone desktop browser extension for its wallet service that will enable users to interact directly with more than 500 digital assets.

The release of the full standalone extension builds on the initial release of a basic wallet extension back in May, but this was limited to transaction confirmations within the mobile app.

A standalone version of the self-custody wallet will enable users to manage and interact with dApps, DEXes, DeFi protocols and NFT marketplaces directly without a need for the mobile app – bringing the product in line with similar market rivals.

Coinbase Wallet targets Metamask market share

The move marks a serious attempt by Coinbase to improve market share in the non-custodial crypto wallet space.

But Coinbase’s self-custody service is likely to face stiff competition against the leading non-custodial crypto wallet provider Metamask, which dominates the standalone browser extension space having grown 1,800 per cent in the past year to more than 10 million monthly active users (MUA).

Since introducing dApp connectivity through WalletLink in 2019 the wallet offering has seen a steady growth of users on its mobile platform.

And with Coinbase sat in one of the strongest regulatory and compliance positions, it would seem this latest strategic move could be set on securing long-term market share.