Open source decentralized app (dApp) browser and wallet Toshi will now be known as Coinbase Wallet, and will initially support ETH, alongside dApps and crypto collectibles.
The exchange presents the move as more than just a rebranding exercise, suggesting that the wallet will develop over time to offer more functionality than existing crypto wallets and serve as a “gateway” to the decentralized web and an “open financial system.”
It also allows users to access decentralized exchanges, use third-party dApps, buy and store crypto-collectibles and receive airdrops and tokens from Initial Coin Offerings (ICOs).
Coinbase notes that users will be able to store their private keys within their devices, rather than on an external server, which will be secured using the device’s inbuilt security technology, including “secure enclave” and biometric authentication.
Yesterday, Cointelegraph reported on Coinbase’s new acquisition of an American startup that focuses on developing decentralized identity solutions, as the exchange pursues new ways to tackle anonymity, privacy, and other sensitive data issues within the context of an open financial system.