Coinbase Unveils Base App: The All-in-One Platform Merging Social Networking and Payments

The largest American cryptocurrency exchange, Coinbase, has rebranded its wallet to Base App. This application combines social networking, mini-apps, chat, payments, and trading features.

The company refers to this as a new chapter for the Base ecosystem. The platform now consists of three components:

Since July 16, the Base App has been available in beta for users on the waiting list. The app features a social feed built on the Farcaster protocol, allowing users to tokenize posts through Zora, receive tips, and earn weekly rewards for their activity. Additionally, users can track their friends’ transactions and exchange tokens directly within the feed.

The Base App includes mini-apps ranging from games to prediction markets. It supports USDC payments via a single tap through NFC and encrypted messages using the XMTP protocol.

Upon registration, users receive a Base Account—a smart wallet that operates across various applications and networks.

The company has also launched Base Pay, a payment service designed for «nearly instant transactions in USDC.» Merchants on Shopify can already integrate this service. Recently, Shopify added the ability to accept stablecoin payments in partnership with Coinbase and Stripe in June.

The exchange team stated that their goal is to simplify on-chain activities to the level of conventional apps. After beta testing, a gradual public rollout will commence.

However, rewards in the Base App are not available in the European Union and Canada.

The Coinbase app’s rating in the App Store, often seen as an indicator of retail investor interest, has surged dramatically. Over the past month, it climbed from 436 to 162.

Historically, the spike in the app’s popularity has coincided with market euphoria, as noted by The Block. High rankings typically preceded corrections when excitement among retail investors peaked and began to wane.

However, experts believe the current cycle may differ. The competition in the cryptocurrency trading app market has intensified, with platforms like Robinhood and other exchanges potentially challenging Coinbase.

According to the publication, multiple cryptocurrency apps could simultaneously enter the App Store’s top rankings, which would diminish Coinbase’s role as a sole indicator of retail investor sentiment.

At the time of writing, shares under the ticker COIN are trading at $398, having gained 2.62% in a day, according to Google Finance.

It is worth noting that in May 2025, Coinbase’s shares were included in the S&P 500 index.

In June, the cryptocurrency exchange received a MiCA license in Europe.