Coinbase offers third-party DeFi apps on the platform

Coinbase, the largest cryptocurrency exchange in the United States, is working to expand its services to customers.

Coinbase, one of the largest cryptocurrency exchanges in the world, has shown its interest in entering the field of decentralized finance (DeFi). Alesia Haas, Chief Financial Officer (CFO) of the exchange, announced this yesterday during a fintech-oriented event hosted by Citi.

Haas discussed Coinbase’s plans for the DeFi space and the broader cryptocurrency market in general. Coinbase has three pillars in terms of its overall strategy. The third is about Coinbase becoming a platform that users can access and enjoy a wide range of applications and uses.

Haas explained:

“The third pillar for us is crypto as an app platform, and this is where we serve the broader crypto ecosystem. We plan to eventually serve third-party apps in our main product. Thus, we are independent of the customer’s choice to opt for a Coinbase product or a third-party DeFi product. We would like to introduce and find the best product for our customers.”

The CFO said Coinbase intends to build a strong relationship within the DeFi space to expand its services. Haas also stressed the intention to make Coinbase a bridge to DeFi. She added:

“Crypto as an app platform will help DeFi in two ways. First, we are developing tools to accelerate the builders in the ecosystem through the Coinbase Cloud. And we believe that this opportunity itself will be great in the future, because more and more companies will want to offer crypto services to their end customers. Secondly, we also help with sales. Just as we were a bridge to buying and selling crypto, we will be a bridge to DeFi.”

Coinbase wants to make the DeFi space accessible to billions of people worldwide by making it easier to use. The DeFi space has become a multi-billion dollar market and continues to grow as more and more people use the services offered by the numerous DeFi protocols.

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