TLDR
- Coinbase has restored the Coinbase Wallet name after abandoning the Base App rebrand that lasted just over a year
- The platform has pivoted away from its “everything app” social concept toward multichain DeFi trading
- The wallet now supports 11 blockchain networks, including recently added Robinhood Chain and Monad
- Integration with Hyperliquid enables perpetual futures trading across 290+ markets with leverage up to 50x for qualified users
- Features include tokenized equities, prediction markets, and niche assets, though regional restrictions apply
After slightly more than a year, Coinbase has abandoned the Base App moniker and returned to calling its product Coinbase Wallet, shifting away from social features toward multichain trading and decentralized finance capabilities.
The rebrand to Base App occurred in July 2025, when Coinbase positioned the product as an all-encompassing platform for trading, payments, messaging, social interactions, and mini-applications centered on the Base layer-2 blockchain.
The strategy failed to gain traction. CEO Brian Armstrong admitted in March that the social-focused approach “didn’t quite work.” Jesse Pollak, who created Base, subsequently conceded that creator-oriented features underperformed and that interest in social functionality had “disintegrated completely.”
Leadership changed hands in July when Pollak transferred control of the application to Jordan “Cobie” Fish, allowing him to concentrate exclusively on developing the Base blockchain.
The product now bears its original name again, accompanied by a strategic redirection. Coinbase is marketing Coinbase Wallet as a self-custody gateway to what the company calls an “everything exchange.”
Ryan Kass, who leads Coinbase Wallet Product development, characterized the application as a “test kitchen” for experimenting with products and assets unavailable on Coinbase’s centralized platform. He emphasized the company’s ability to pivot rapidly when strategies underperform.
Hyperliquid Perpetuals Lead the Trading Push
The centerpiece feature is perpetual futures trading enabled through Hyperliquid integration. Coinbase introduced this functionality in August, providing qualified users with access to over 290 trading markets and leverage reaching 50x on select contracts.
The perpetuals offering spans crypto assets, equities, and commodities. While Hyperliquid handles trade execution, users manage their positions through Coinbase’s interface.
This service remains unavailable to users in the United States, United Kingdom, and Canada. For American traders, Coinbase operates a distinct regulated futures platform through Coinbase Financial Markets, which maintains registration with the Commodity Futures Trading Commission.
Following the rebrand, Coinbase Wallet now accommodates 11 blockchain networks: Base, Bitcoin, Ethereum, Solana, BNB Chain, Optimism, Arbitrum, Polygon, Avalanche, Monad, and Robinhood Chain. The latter two represent recent expansions.
Tokenized Stocks and Prediction Markets
Coinbase Wallet provides qualified international users with access to tokenized equities. Last August, Coinbase introduced four tokenized American stocks on Base: Apple, Nvidia, Meta, and Alphabet.
These tokens maintain 1:1 backing and are issued via a Coinbase-affiliated entity operating in the Abu Dhabi Global Market. They lack registration under American securities regulations and cannot be offered to US individuals.
The wallet also includes prediction market functionality. While Coinbase Financial Markets contends these fall under CFTC jurisdiction, certain US states have challenged this interpretation. A federal judge rejected Coinbase’s request for protection from Michigan enforcement actions in August.
The wallet automatically displays all assets created on supported blockchains. Coinbase implements a detection mechanism that automatically conceals tokens associated with fraudulent schemes or malicious activity.
Novel asset categories such as tokenized stocks and prediction markets undergo “vigorous product and compliance reviews” prior to integration.
Coinbase generates income through trading commissions and product fees within the wallet, though the company has not published detailed fee schedules or disclosed whether the trading-centric approach has expanded its user base.
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