Coinbase is rebranding its Wallet App and rolling out new features as the crypto platform looks to create a new ‘superapp’.

The new app, called Base, combines trading, payments, messaging, social functions and app discovery in a single user interface.

The application includes a layer-2 blockchain that aims to provide a seamless, blockchain-native environment where users can chat, transact, invest and interact without the need for multiple applications or complex wallets.

A layer-2 blockchain is a separate network or system built on top of an existing blockchain (layer-1) to increase its scalability and transaction efficiency.

The technology aims to handle a large volume of transactions outside the main (layer-1) blockchain, reducing congestion and transaction fees on the primary network.

The firm said the new app seeks to expand Coinbase’s offering beyond the crypto-native community and push blockchain-based experiences into the mainstream.

The launch was announced at a conference in Los Angeles last week, during which the company outlined its vision of a blockchain-native future.

In a promotional video shared during the event, the firm said: “Coinbase Wallet is now much more than a wallet. Your new home to create, earn, trade, discover apps, and chat with friends all in one place.”

 The video continued: “Move money. Bring your identity wherever you go. Own your social graph. Use markets 24/7. Chat with your friends.”

Coinbase chief executive and co-founder Brian Armstrong said on X: “Coinbase Wallet has evolved. The Base app is your new onchain home to post, earn, trade, chat, and connect.”

Social media platform X’s owner Elon Musk also recently voiced ambitions to transform X into an all-in-one "superapp," integrating messaging, social networking, and financial services.

Former chief executive at X Lidia Yaccarino recently confirmed that X is also developing a credit or debit card, expected to launch later this year.

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