Multi-chain crypto wallet Fantom is expanding its blockchain support. In a recent move, the wallet has launched its services on the Base Network, a layer-2 solution built on Ethereum and managed by Coinbase. This integration allows developers and Web3 community members within the Base ecosystem to access Fantom’s asset custody and transfer services. Founded in 2021, Fantom already supports other networks including Solana and Polygon.
Fantom confirmed development on the X earlier this week. According to the company, customers will now be able to swap Base and Solana tokens, buy ETH and USDC on the Base network from within their wallet via card, Coinbase or Apple Pay.
Additionally, this ecosystem expansion brings more DeFi and NFT apps to Base and Fantom community members.
Today, we are moving forward @Base 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 inside your wallet pic.twitter.com/woCT3K7qgY– Phantom (@Phantom) 25 November 2024
Coinbase advertised Base in February 2023 as a blockchain network that offers ‘big features and small fees’. On its official website, Base claims that its community is spread across 190 countries. according to reports Base is the largest L-2 network in terms of total value locked – which is according to CoinGecko Currently it is $3.33 billion (about Rs 28,116 crore).
The expansion of Fantom on Base is likely to add more users to its wallet services. Earlier in February 2024, Phantom CEO and co-founder Brandon Millman had told techcrunch The number of monthly active users of the wallet service has exceeded three million – a 220 percent increase from 2023.
Recognizing the need for increased security, Phantom is focusing on strengthening its internal security measures to better protect its systems. recent forum acquired Blowfish, a security platform bringing advanced fraud protection to crypto users.
As more individuals are venturing into the crypto sphere, especially with the advent of crypto ETFs, the demand for multi-chain wallets has increased within the Web3 community. Unlike single-chain wallets, which only support 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 like MetaMask, Trust Wallet, and Ledger join Fantom to meet this growing demand.