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Cryptoknowmics 2022-05-24 07:43:12

Coinbase’s Extended Swap Programme Includes “Thousands of Tokens”

Coinbase, America’s largest cryptocurrency exchange, has added the BNB Chain (previously Binance Smart Chain) and Avalanche to its list of supported networks for customers to swap and store their cryptocurrencies. The exchange boasts in a May 24 blog post that the new capability would provide users access to “thousands of tokens,” a “larger variety” than most traditional centralized exchanges can supply. One Wallet. Even more networks. Thousands of tokens. Now supporting token swaps on @avalancheavax and @BNBCHAIN on Coinbase Wallet. Learn more -> — Coinbase Wallet (@CoinbaseWallet) May 23, 2022 With the addition of BNB Chain (BNB) and Avalanche (AVAX), there are now four supported networks, including Ethereum (ETH) and Polygon (POLY) (MATIC). Coinbase’s own in-app decentralized exchange (DEX) on four networks is available to wallet users who want to trade on-chain. Bridging with tokens is not yet possible. In contrast to CoinBase’s centralized infrastructure, Coinbase Wallet allows customers to self-guard their bitcoin and gives them access to on-chain services. Currently, there are 173 tokens listed on Coinbase’s market. These figures pale in comparison to the thousands of Coinbase Wallet users now have access to across the four networks. Sending tokens between networks without going via a centralized exchange is known as network bridging (CEX). Multichain and Wormhole are t...

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