Key Takeaways
- After approximately one year, Coinbase has reversed the Base App rebrand, returning to the Coinbase Wallet name
- The platform has shifted from its “everything app” social strategy to prioritizing multichain decentralized trading
- The wallet now integrates 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
- Non-US users can access tokenized equities, prediction markets, and niche digital assets, subject to regional limitations
After just over twelve months, Coinbase has restored the Coinbase Wallet branding to its mobile application, abandoning the Base App name and shelving its ambitious social platform experiment in favor of multichain DeFi capabilities.
The exchange initially rebranded Coinbase Wallet as Base App in July 2025, positioning it as a comprehensive platform that would merge cryptocurrency trading with messaging, payments, social networking, and specialized mini-applications centered on the Base layer-2 ecosystem.
However, that strategy ultimately collapsed. CEO Brian Armstrong admitted in March that the social platform test “didn’t quite work.” Jesse Pollak, who spearheaded Base’s development, subsequently conceded that features targeting content creators underperformed and that user interest in social functionality had “disintegrated completely.”
Following these setbacks, Pollak transferred app leadership to Jordan “Cobie” Fish in July and redirected his attention exclusively toward developing the Base blockchain infrastructure.
The application has now returned to its former identity with a substantially revised mission. Coinbase is repositioning Coinbase Wallet as a self-custody gateway to what the company characterizes as an “everything exchange.”
Ryan Kass, who leads Coinbase Wallet Product development, characterized the platform as a “test kitchen” for experimental products and digital assets unavailable through Coinbase’s traditional centralized exchange. He emphasized the company’s ability to pivot rapidly when specific product approaches fail to gain traction.
Hyperliquid Integration Anchors Trading Expansion
The centerpiece of the revamped wallet is perpetual futures trading enabled through Hyperliquid. Coinbase implemented this integration in August, providing qualified users with access to over 290 trading pairs and leverage reaching 50x on select instruments.
This partnership encompasses perpetual contracts tracking cryptocurrencies, traditional equities, and commodity prices. Hyperliquid handles trade execution while users monitor and adjust positions through Coinbase’s interface.
This functionality remains unavailable to residents of the United States, United Kingdom, and Canada. For American traders, Coinbase operates an independent regulated futures platform through Coinbase Financial Markets, which maintains registration with the Commodity Futures Trading Commission.
Following the rebranding, Coinbase Wallet now supports eleven blockchain networks: Base, Bitcoin, Ethereum, Solana, BNB Chain, Optimism, Arbitrum, Polygon, Avalanche, Monad, and Robinhood Chain. Both Monad and Robinhood Chain represent recent integrations.
Tokenized Equities and Decentralized Prediction Markets
Coinbase Wallet provides qualified international users with access to tokenized traditional stocks. In August, Coinbase introduced four tokenized US equities on Base, representing Apple, Nvidia, Meta, and Alphabet.
These digital tokens maintain full 1:1 backing and are issued via a Coinbase-affiliated entity operating within the Abu Dhabi Global Market regulatory framework. They lack registration under United States securities regulations and cannot be distributed to US persons.
Prediction market functionality is also embedded within the wallet interface. Coinbase Financial Markets maintains these products fall under CFTC jurisdiction, though several state regulators have challenged this interpretation. A federal judge rejected Coinbase’s request for protection from Michigan regulatory enforcement in August.
The wallet automatically displays all tokens created on supported blockchain networks. Coinbase states that an automated detection system flags and conceals tokens associated with fraudulent schemes or malicious activity.
Emerging product categories including tokenized securities and prediction markets undergo “vigorous product and compliance reviews” before integration, according to the company.
Coinbase generates income through transaction fees and product-specific charges within the wallet application, 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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