Multi-Chain Crypto Wallet Phantom Live on Coinbase’s Base Layer-2 Network
Multi-chain crypto wallet Phantom expands its blockchain support. In a recent move, the wallet launched its services on the Base network, a layer-2 solution built on Ethereum and operated by Coinbase. This integration allows developers and members of the Web3 community within the Base ecosystem to access Phantom’s asset custody and transfer services. Founded in 2021, Phantom already supports other networks including Solana and Polygon.
Phantom confirmed the development earlier this week on
Additionally, this ecosystem expansion brings more DeFi and NFT apps to Base and Phantom community members.
Today we’re rolling out @Baseren for everyone on Phantom 🔵
You can now:
→ Swap tokens between Base and Solana
→ Access your favorite DeFi and NFT apps
→ Buy ETH and USDC on Base directly from your wallet pic.twitter.com/woCT3K7qgY— Phantom (@phantom) November 25, 2024
Coinbase introduced Base in February 2023, advertising it as a blockchain network that offers “big features and small fees.” On its official website, Base claims its community is spread across 190 countries. According to reports Base is the largest L-2 network in terms of total value locked – according to Coin gecko currently stands at $3.33 billion (approximately Rs. 28,116 crore).
The expansion of Phantom on Base will likely add more users to its wallet services. Earlier in February 2024, Phantom CEO and co-founder Brandon Millman shared TechCrunch that the wallet service exceeded three million monthly active users – a 220 percent increase from 2023.
Phantom recognizes the need for improved security and is focused on strengthening its internal security measures to better protect its systems. The platform recently bought Blowfish, a security platform that provides crypto users with advanced fraud protection.
As more people enter the crypto space, especially with the advent of crypto ETFs, demand for multi-chain wallets within the Web3 community has skyrocketed. Unlike single-chain wallets that support only one cryptocurrency, multi-chain wallets allow users to store multiple cryptocurrencies, providing greater convenience for those navigating different blockchains for different purposes. Popular multi-chain wallets such as MetaMask, Trust Wallet and Ledger are joining Phantom to meet this growing demand.
