Coinbase Wallet users can now allocate funds for lending to various DeFi-projects and track interest on loans directly from the wallet.
In a statement, Coinbase announced that wallet users have previously transferred millions of dollars to DeFi platforms thanks to the integrated decentralized application browser and WalletLink feature. However, now the interface has become even friendlier, since earlier there was no possibility of quick comparison of interest rates.
With the new feature, from now Coinbase Wallet users can much easier to interact with platforms like Compound or dYdX. They just need to choose the cryptocurrency, the supplier of the smart contract and the amount to transfer to the selected DeFi platform.
After that, right in the wallet, users will be able to see the overall balance on this platform and the earned interest.
IOS app users will get a new feature later this week, but Android device owners will have to wait a couple of weeks. At the same time, Coinbase representatives warned that the DeFi industry is still at the initial stage of development and therefore there is a risk of losing funds – Coinbase said in a statement.