Digital Currency Revolution Series: Apple’s App Store To Eliminate Coinbase DApp On Compliance Issues

Coinbase’s mobile cryptocurrency wallet, ‘Coinbase Wallet’, appears to be compelled to remove from Apple’s App Store on account of compliance issue of Apple’s App Store policy.

Coinbase, ‘the renowned US-based cryptocurrency exchange, has explained to their clients that the support for its decentralized application (DApp) browsing feature is going to be eliminated in order to comply with Apple’s mobile App Store policy. 

Mr. Brian Armstrong, the CEO of Coinbase, responded to the news:

“Coinbase CEO here. This is really unfortunate to see. Apple seems to be eliminating usage of DApps from the App Store. Presumably this would extend to other wallets as well (Trust, Argent, Metamask) it’s beyond Coinbase and IMO a very big threat to the ecosystem.”

Furthermore, he has urged “if Apple customers want to be able to use DApps, we may need to make this request know to Apple in some way. This is an important area of innovation in finance, and many developers and early adopters of this technology have millions of dollars-worth of crypto tied up in these financial applications, which they will no longer be able to use on Apple mobile devices if this app store policy continues.”

Coinbase.com is a digital currency brokerage where one can use it to buy or sell cryptocurrency in exchange for fiat currency (i.e. USD or your local currency). 

Whereas the wallet is a user-custodied digital currency wallet and DApp browser. This means that with Wallet, the private keys (that represent ownership of the cryptocurrency) are stored directly on your device and not with a centralized exchange like Coinbase Consumer. You do not need a Coinbase Consumer account to use Wallet and you can download Wallet from anywhere in the world.

In the recent past, Coinbase Pro mobile app was introduced on App Store that was designed to provide advanced crypto traders with the essential tools to make trades on the go decisions.