Coinbase Enabling Users Access to ‘Thousands of Tokens’

Nasdaq-listed and America’s largest crypto exchange Coinbase is adding support its Coinbase Wallet for the BNB Chain (formerly Binance Smart Chain) and Avalanche.

A May 24 company blog post said that the added functionality will allow users access to “thousands of tokens” which they can trade and store, constituting to a “greater variety than most traditional centralized exchanges can offer.”

With BNB Chain (BNB) and Avalanche (AVAX) integrated, the  the total supported networks has increased to four, including Ethereum (ETH) and Polygon (MATIC).

While Coinbase currently has ‘only’ 173 tokens listed on its exchange, across the four networks, Coinbase Wallet users will now be having access to thousands of other coins. The exchange said:

“We’ll be making it possible to conduct swaps on an even greater variety of networks.

Not only will trading expand, but we’re also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks.”

The Coinbase Wallet enables users to self-custody their crypto and provides access to on-chain in addition to the features available on Coinbase’s centralized platform.

The cryptocurrency exchange is currently also rolling out its Web3 wallet and browser for the mobile app, available to limited testers at first.