On September 10, Coinbase announced the rebranding of its Base App back to Coinbase Wallet. Product lead Ryan Kass stated that the application had outgrown its original focus on the Base L2 network. The new name is intended to better reflect the product's role as a non-custodial gateway for the exchange.
The project initially aimed to combine trading, social networking, and payments, including creator tokens. However, in March, Coinbase CEO Brian Armstrong noted that the social model lacked a sustainable economy. Consequently, the team shifted its strategic focus toward trading functionality.
Leadership of the product changed in July, with Jesse Pollak handing over management to Jordan Fish, known as Cobie, to focus on blockchain development. Pollak acknowledged that his previous belief in social products as the primary driver for mass crypto adoption was incorrect.
Coinbase Wallet now supports various networks, including the Robinhood Chain. Kass emphasized that competition between platforms should not limit user choice. The wallet will continue to serve as a testing ground for new assets and features before they are integrated into the main retail application.
