Coinbase’s App Could Add Self-Custody, CEO Brian Armstrong Reveals
Synopsis
CEO Armstrong said the rollout would require a "major architectural lift" due to deep technical dependencies.
Coinbase (COIN) may introduce a self-custodial onboarding flow to its main consumer app, expanding user access to on-chain features beyond its existing Base App
CEO Brian Armstrong said on Wednesday that Coinbase “might make a self-custodial onboarding flow for the main Coinbase app also.” Users can choose between managed custody and self-custody within the same app experience. This could be a strategic shift for Coinbase as it prepares for wider adoption of DeFi.
Armstrong said the rollout would require a "major architectural lift" due to deep technical dependencies. He also said that Coinbase chose shipping self-custody through the Base App first to move faster on a new foundation.
“But if it works in Base App, we may invest in the main Coinbase app as well. Self-custody has many benefits,” stated Armstrong.
Coinbase (COIN) was trading 0.98% higher on Wednesday. On Stocktwits, retail sentiment around COIN remained in ‘extremely bullish’ territory, as chatter around the crypto stock remained in ‘extremely high’ levels over the past day.
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