Coinbase wallet announces support for Solana

The largest U.S. crypto exchange Coinbase announced on Friday support for the Solana ecosystem through its wallet browser extension, allowing users to manage their Solana (SOL) and Solana-based SPL tokens

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See related article: Solana wallet Phantom brings valuation to $1.2B after $109M Series B

Fast facts

  • Solana’s integration with the wallet enables users to access a wider variety of Web 3.0 applications without having to swap wallets, thereby reducing friction in the process.
  • The Coinbase wallet already supports Ethereum, Avalanche, Polygon, BNB Chain and others, and the addition of Solana makes the platform a competitor to leading Solana wallets Phantom and Solflare.
  • It does not yet support Solana-based NFTs, though Coinbase says this feature is in development as is the ability to connect with Solana decentralized applications (dApps).
  • SOL rallied roughly 5% overnight Asia time though had lost that ground coming into Asia business hours, and was trading at US$86.53 at press time.

See related article: What is Solana and why is it the hottest blockchain of the moment?