Toshi Goes Native to Become 'Coinbase Wallet'

Toshi, the open source decentralized app browser and wallet developed by Coinbase, is now going native to become "Coinbase Wallet," according to an official Medium post published August 15.

The exchange presents the move as more than just a rebranding exercise, suggesting that the wallet will develop over time to offer more functionality than existing crypto wallets and serve as a "Gateway" to the decentralized web and an "Open financial system."

Initially, the wallet offers support for Ethereum and ERC-20 tokens, but will reportedly support Bitcoin, Bitcoin Cash, and Litecoin "Very soon."

It also allows users to access decentralized exchanges, use third-party dApps, buy and store crypto-collectibles and receive airdrops and tokens from Initial Coin Offerings.

Coinbase notes that users will be able to store their private keys within their devices, rather than on an external server, which will be secured using the device's inbuilt security technology, including "Secure enclave" and biometric authentication.

Yesterday, Cointelegraph reported on Coinbase's new acquisition of an American startup that focuses on developing decentralized identity solutions, as the exchange pursues new ways to tackle anonymity, privacy, and other sensitive data issues within the context of an open financial system.