Multi-chain crypto wallet Phantom is expanding its blockchain support. In a recent move, the wallet has launched services on the basic network, a layer 2 solution based on Ethereum and managed by Coinbase. This integration gives developers and members of the Web3 community in the basic ecosystem access to Phantom’s asset monitoring and transfer services. Founded in 2021, Phantom already supports other networks, including Solana and Polygon.
Phantom confirmed X’s development earlier this week. According to the company’s view, customers will now be able to exchange base and Solana tokens, ABD for purchases of ETH and USDC from the basic network inside their wallets via card, Coinbase or Apple Pay.
In addition, this ecosystem is based on the expansion and the Phantom community members bring more Defi and NFT applications.
Today, we are launching @according to To everyone in Phantom
You can now:
→ Exchange tokens between base and Solana
→ Access your favorite defi and NFT applications
→ Buy ETH and USDC at the base of the wallet pic.twitter.com/woct3k7qgy-Phantom (@phantom) November 25, 2024
Coinbase launched its base in February 2023, using it as a blockchain network that provides “big features and tips.” Base claims on its official website that its communities are spread across 190 countries. According to the report, the basis is the largest L-2 network in terms of total value lock-up – Coingecko’s total value is currently US$3.33 billion (approximately Rs 28,111.6 billion).
Based on Phantom’s expansion may add more users to its wallet service. Earlier in February 2024, Phantom CEO and co-founder Brandon Millman told TechCrunch that the wallet service has more than 3 million active users per month – starting in 2023, the increase 220%.
Recognizing the need for enhanced security, Phantom focuses on strengthening its internal security measures to better protect its systems. The platform recently received Blowfish, a secure platform that brings advanced fraud protection to encrypted users.
As more and more people venture into the crypto space, especially with the emergence of encrypted ETFs, the demand for multi-chain wallets in the Web3 community has surged. Unlike single-chain wallets that only support one cryptocurrency, multi-chain wallets allow users to store multiple cryptocurrencies, providing greater convenience for those who navigate various blockchains for different purposes. Popular multi-chain wallets such as Metamask, Trust Wallet and Ledger join Phantom to meet this growing demand.
