Cryptocurrency exchange Coinbase today enabled support for the Solana blockchain on its Coinbase Wallet browser extension. Coinbase Wallet users can now manage their Solana (SOL) and Solana-based SPL tokenstokens using the extension.
Prior to adding Solana, the Coinbase Wallet extension supported Ethereum, Polygon, Avalanche, and the BNB Chain, among others. By adding Solana support, Coinbase positions its wallet as a competitor to leading Solana walletswallets Phantom and Solflare.
While the Coinbase wallet now offers support for SOL and SPL tokens, it doesn’t yet allow users to manage Solana NFTs directly within the wallet. It’s also worth noting that Solana tokenstokens will only be visible via the Coinbase wallet browser extension at launch—the Coinbase Wallet mobile app won’t show them.
Users can move their tokens from an existing Solana wallet to a Coinbase wallet by inputting their confidential recovery phrase into the Coinbase wallet browser extension on setup.
“In the coming months, we’ll be adding support for Solana NFTs and the ability for you to connect your wallet to Solana dapps to interact with everything the Solana ecosystem has to offer,” Coinbase senior product manager Adam Zadikoff said in a release.
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OpenSea may lead the world of Ethereum NFT marketplaces, but there’s a separate ecosystem gaining steam on the Solana blockchain—and Magic Eden has a similarly commanding lead in that space. Today, Magic Eden announced that it's raised $27 million to expand its ambitions. The Series A round was led by Paradigm, with participation from Sequoia, Solana Ventures, Greylock, Kindred, Electric, and Variant. Magic Eden plans to use the funds to hire more employees, build out its gaming vertical, explor...
For many cryptocurrency users, having multiple wallets for different blockchains can feel like a cumbersome experience. To address this, wallet providers have sought to consolidate and support various blockchains and their native coins. Popular Ethereum wallet Metamask, for example, supports Polygon, Avalanche, and Fantom. It does not, however, support Solana, since the network is not Ethereum Virtual Machine (EVM) compatible.
