The largest U.S. crypto exchange Coinbase announced on Friday support for the Solana ecosystem through its wallet browser extension, allowing users to manage their Solana (SOL) and Solana-based SPL tokens

See related article: Solana wallet Phantom brings valuation to $1.2B after $109M Series B

Fast facts

  • Solana’s integration with the wallet enables users to access a wider variety of Web 3.0 applications without having to swap wallets, thereby reducing friction in the process.
  • The Coinbase wallet already supports Ethereum, Avalanche, Polygon, BNB Chain and others, and the addition of Solana makes the platform a competitor to leading Solana wallets Phantom and Solflare.
  • It does not yet support Solana-based NFTs, though Coinbase says this feature is in development as is the ability to connect with Solana decentralized applications (dApps).
  • SOL rallied roughly 5% overnight Asia time though had lost that ground coming into Asia business hours, and was trading at US$86.53 at press time.

See related article: What is Solana and why is it the hottest blockchain of the moment?