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Usha Yadav
May 24, 2022
by Usha Yadav

Coinbase’s Extended Swap Programme Includes “Thousands of Tokens”

Coinbase’s Extended Swap Programme
Coinbase, America's largest cryptocurrency exchange, has added the BNB Chain (previously Binance Smart Chain) and Avalanche to its list of supported networks for customers to swap and store their cryptocurrencies. The exchange boasts in a May 24 blog post that the new capability would provide users access to "thousands of tokens," a "larger variety" than most traditional centralized exchanges can supply.

With the addition of BNB Chain (BNB) and Avalanche (AVAX), there are now four supported networks, including Ethereum (ETH) and Polygon (POLY) (MATIC). Coinbase's own in-app decentralized exchange (DEX) on four networks is available to wallet users who want to trade on-chain. Bridging with tokens is not yet possible. In contrast to CoinBase's centralized infrastructure, Coinbase Wallet allows customers to self-guard their bitcoin and gives them access to on-chain services. Currently, there are 173 tokens listed on Coinbase’s market.  These figures pale in comparison to the thousands of Coinbase Wallet users now have access to across the four networks.

Sending tokens between networks without going via a centralized exchange is known as network bridging (CEX). Multichain and Wormhole are two popular token bridges. Coinbase is rolling out its Web3 wallet and browser for the mobile app, though only to a limited number of users at first. This will provide mobile traders with access to a diverse ecosystem of DEXes on supported networks, in addition to Coinbase's own.

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Coinbase Coinbase Wallet Avalanche BNB Chain
Coinbase’s Extended Swap Programme Includes “Thousands of Tokens”
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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