Coinbase Launches Crypto Wallet Support for Solana

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 tokens 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 wallets 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 tokens 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. 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. The best of Decrypt straight to your inbox. Get the top stories curated daily, weekly roundups & deep dives straight to your inbox.