Digital assets exchange Coinbase (NASDAQ:COIN) announced several updates aimed at supporting its mission of enabling the so-called crypto-economy, which is a term that has been widely used by the company over the years.
From bolstering its memberships to clarifying asset listing processes and acqui- hiring talent to supercharge onchain features, the crypto exchange is focused on solidifying its position in the digital asset space.
These updates seemingly reflect Coinbase’s commitment to fostering trust and widespread adoption in the crypto ecosystem.
One of the developments is the expansion of Coinbase One’s onchain benefits program.
Launched earlier this year, this initiative has reportedly delivered over $1 million in onchain incentives to members through partnerships with platforms like Aerodrome, PancakeSwap, Zora, Morpho, Moonwell, Dimo, and Sofamon.
These rewards, combined with perks such as free gas on the Base network, zero trading fees on Definitive, and discounts on OpenCover, have provided tangible value to users diving into decentralized applications.
Coinbase is now “leveling up” the program by introducing new partners: OpenSea, TOSHI, Euler, Sleap, and Venice.
This addition aims to unlock opportunities in the onchain economy, aligning with Coinbase’s mission to onboard one billion people to blockchain technology.
The new collaborations offer diverse incentives.
OpenSea, the NFT marketplace, will launch a prize vault on September 15th, where Coinbase One users can earn a share by powering up a Treasure Chest with a 5% bonus and accessing exclusive “Shipments.”
TOSHI, a cat-themed token project, provides an exclusive soulbound NFT mint, granting recipients a portion of a $5,000 monthly $TOSHI airdrop.
For DeFi enthusiasts, Euler offers a 5% APY boost on USDC deposits via Base, with rewards distributed monthly as rEUL tokens—the boost applies to the first $10 million in aggregate deposits, tapering thereafter.
Sleap, a travel booking platform, may complement the deal with various benefits / offers.
Finally, Venice, an AI-driven tool, delivers certain benefits as well.
Members can access these benefits via a subscription and by verifying their wallet through the Coinbase One dashboard.
As Coinbase notes, “we’re just getting started,” signaling more enhancements to come in this rapidly growing program.
Complementing these user-focused perks, Coinbase has released a comprehensive guide to its digital asset listing process, emphasizing transparency and regulatory compliance.
The exchange’s standards are said to have long been designed to build trust by operating within existing legal frameworks, reportedly prioritizing assets that demonstrate technological potential, community support, and adherence to security best practices.
However, recognizing the need for clearer guidance amid a booming crypto market, Coinbase is now providing detailed expectations to help project teams prepare effectively.
The process begins with an initial review of the asset’s whitepaper, codebase, and legal compliance, followed by technical audits and liquidity assessments.
Teams must meet criteria such as full token unlocks, transparent tokenomics, and no reliance on unsustainable incentives.
Once approved, listings undergo beta testing on platforms like Base before full rollout.
This structured approach not only mitigates risks but also encourages innovation, as evidenced by over 250 assets listed to date.
By demystifying the pathway, Coinbase aims to attract high-quality projects while protecting users from potential pitfalls.
Further accelerating its vision, Coinbase has acqui-hired the founding team of Sensible, a startup specializing in DeFi-powered consumer applications.
This move is geared toward building the so-called “#1 financial app”—an “everything exchange” that integrates trading, earning, staking, and spending on crypto rails.
Sensible’s expertise in simplifying DeFi complexities will enhance Coinbase’s onchain consumer roadmap, making features like borrowing against assets and yield farming accessible to novices and experts.
The integration aims to strip away barriers, allowing users to earn rewards on USDC holdings or spend via the Coinbase One Card without leaving the app.
As crypto adoption surges, this acqui-hire move positions Coinbase to lead in consumer finance, blending traditional banking with blockchain’s potential.
These updates collectively underscore Coinbase’s overall business strategy: rewarding loyal users,streamlining industry standards, and developing products for mass adoption.
With onchain activity at an all-time high, the exchange is adapting to the digital economy while potentially establishing new trends.
As regulatory landscapes evolve and Web3 matures, Coinbase‘s proactive steps could set benchmarks for the sector.