Tanaya Macheel, CNBC reporter, tells Worldwide Exchange Coinbase’s ‘Base App’ is a Web3 super app for creators, combining payments, messaging, and trading amid U.S. challenges.

New York

Coinbase has announced a major rebrand of its wallet app, now called the 'Base App.' This new platform is designed as a Web3 super app, targeting creators by combining features such as payments, messaging, app discovery, and trading. Built on Coinbase's Base blockchain, which itself is based on Ethereum, the app aims to provide a decentralized alternative for content creators to manage their data and content.

The launch comes amid ongoing challenges for super apps in the U.S., where regulatory and privacy concerns have limited adoption compared to other countries. Coinbase is focusing on the decentralized aspects of Web3 to appeal to creators who want more control over their content and data, moving beyond traditional crypto trading audiences.

Coinbase launches ‘Base App,’ a Web3 super app for creators

and the platform unveiling a big rebrand for its wall app, shares up about three quarters of 1%. Taneya McKeel is here with much more on this story. Good morning. Good morning, Frank. Yeah, so Coinbase, now replacing their wallet app with the base app. So it's a complete rebrand, a full replacement. It's sort of an everything app, they're calling it, which I think we can think of as more of a super app, something comparable to WeChat in China, which you and I were just talking about. This kind of super app idea has been the holy grail of fintech for a very long time. So really interesting to see what Coinbase does with it here. So it's called the base app, not to be confusing, but it will be built on their blockchain, which is also called base, which is built on top of the Ethereum blockchain. And it is just going to bundle, you know, app discovery, messaging, payments, trading, of course. And they're really putting the message out toward content creators, because this is going to be a web three version of a super app. So they want to get that decentralization angle in there for creators. So maybe I'm not cool. I don't even know. But you look at, I think it's either Cash App or Venmo. They have like a social component to it, where you can like let people know who you paid and put little emojis and comments. There's been other companies that have tried, you know, other versions of super apps. Elon Musk has kind of teased it. X, Facebook. Right, we saw Walmart kind of get into payments and try to do some things there. Why does there seem to be so much consumer resistance to this idea, at least in the US? Because you mentioned in other countries, it already exists. I think there's a couple of things. We just have never had a good version of it. So I don't know if that's behavioral because we've gone so long without it. I think part of it is regulation, data privacy regulation. I think there are constraints coming from Apple and Google within their app stores that might be at play. But I think, you know, it is interesting to see what Coinbase does with the decentralized angle, because they're trying to get into this new consumer market for people who could benefit from the Web3 economy, but might not necessarily be interested in crypto or crypto trading. So I think that's why they're focusing on creators. They're saying, you know, you're able to control your data and your content in whatever way you want. You do not have to be held to whatever rules the algorithm wants. We'll see. I just don't know. I just don't know. And you know what, shares are a little change. I think it's gonna be really interesting to see what Wall Street says about it, because every time I talk to an analyst that's bullish on Coinbase, they're really excited about this base blockchain.

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