Coinbase’s browser and cryptocurrency wallet Toshi has been rebranded into “Coinbase Wallet”.
The announcement was made on August 15 through a blog post on Medium. According to it, the rebranding is part of a “bigger effort to invest in products” that will bring innovative features into the decentralized web.
Siddharth Coelho-Prabhu, Product Lead at Toshi claims the Toshi application claimed the company’s app would “upgrade to Coinbase Wallet” soon, providing the same “great product” but with a more crypto friendly look.
“At Coinbase, we believe that the applications of the future will be built on a decentralized internet (the blockchain). Everyone will own a crypto wallet that allows them to access decentralized applications (dapps) and that wallet will be their gateway to the open financial system,” wrote Prabhu.
Coinbase Wallet to support other three cryptocurrencies
Coinbase Wallet will come with some changes set to be the basis for exploring the “decentralized web” and its benefits. Besides the supported tokens so far, Ethereum and ERC-20, the upgraded wallet will add Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC). By using the Coinbase Wallet, crypto users will also have access to ICO Tokens, airdrops and crypto exchanges.
Regarding the security feature, Coinbase announced the rebranded wallet will have the “best-in-class secure storage” that assures the security of private keys using users’ “device’s Secure Enclave and biometric authentication technology.”
Coinbase Wallet to boost the adoption of cryptocurrencies and DApps
Coinbase intends to transform the upgraded Coinbase Wallet into a full-featured app so users can “explore the full universe of third-party dapps”. By launching the upcoming wallet, the Californian cryptocurrency exchange hopes to boost the adoption rate of DApps.
Toshi was released in 2017 by the parent company Coinbase. At that time, it was the “world’s first mobile dapp browser“, after which Toshi “became the first wallet to launch crypto collectibles“. The company’s goal was to give users access to the decentralized web and its features.