- Coinbase could add a self-custody wallet similar to its Base app on its Coinbase app, as retail sentiment remained in ‘extremely bullish’ territory on Stocktwits.
- The remarks followed shareholder criticism over the Base App’s direction.
- Coinbase's token, COIN, traded nearly 1% higher on Wednesday.
Coinbase (COIN) may introduce a self-custodial onboarding flow to its main consumer app, expanding user access to on-chain features beyond its existing Base App.
CEO Brian Armstrong said on Wednesday that Coinbase “might make a self-custodial onboarding flow for the main Coinbase app also.” Users can choose between managed custody and self-custody within the same app experience. This could be a strategic shift for Coinbase as it prepares for wider adoption of DeFi.
Armstrong said the rollout would require a "major architectural lift" due to deep technical dependencies. He also said that Coinbase chose shipping self-custody through the Base App first to move faster on a new foundation.
“If it works in Base App, we may invest in the main Coinbase app as well,” Armstrong said. “Self-custody has many benefits.”
Coinbase (COIN) was trading 0.98% higher on Wednesday. On Stocktwits, retail sentiment around COIN remained in ‘extremely bullish’ territory, as chatter around the crypto stock remained in ‘extremely high’ levels over the past day.
Shareholder Criticism Sparks Product Discussion
The comments followed criticism from an X user and a Coinbase (COIN) shareholder who questioned how the Base App was marketed and implemented, noting earlier positioning as a broad “superapp.”
Armstrong responded, writing, “I’ll take ownership of that if you want to fire someone.” He added that the Base App was now focused on serving as Coinbase’s self-custodial and trading-focused offering, while the majority of the company's resources remained allocated to the core retail platform.
Uniswap founder Hayden Adams also suggested that Coinbase could eventually merge managed and self-custody experiences into a single application, allowing users to select their preferred custody model within a single interface.
Read also: Coinbase’s App Could Add Self-Custody, CEO Brian Armstrong Reveals
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