Solana-Focused Phantom Wallet Adds Support for Coinbase's Base Network

crypto wallet Phantom has launched beta support for Base, Coinbase's layer 2 network, which allows users to manage assets across multiple chains.

Phantom, a cryptocurrency wallet initially designed as a Solana-focused app, has announced the launch of beta support for Base, an ethereum-based Layer 2 network developed by Coinbase.

in a blog postThe Phantom team revealed that users can now explore functionality like sending, receiving, and purchasing Base-based stablecoins like USD Coin (USDC) and cryptocurrencies like ethereum (eth) using debit and credit cards, Apple Pay, or Coinbase.

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Phantom has emphasized that Base support is currently in beta and optional, meaning those interested in trying out the new addition will need to enable it in their wallet settings.

In addition to asset management, Phantom also allows users to interact with decentralized financial applications and non-fungible tokens within the Base ecosystem. Beyond that, the wallet also supports features designed to improve security, such as support for Ledger devices, automatic spam detection for nfts and malicious tokens, and transaction simulation to flag suspicious activity.

Founded in 2021, Phantom later finished a $109 million series B funding round led by Paradigm, bringing its value to $1.2 billion. Other investors include Jump Capital, Andreessen Horowitz, Solana and Variant. The wallet supports multiple networks including bitcoin, ethereum, and Solana.

Meanwhile, blockchain networks face increasing security challenges as malicious actors exploit vulnerabilities in smart contracts, with Coinbase's Base network leading high-risk detections. As crypto.news previously reported, data from Trugard Labs shows that Base accounted for more than 34,000 high-risk detections in its smart contracts during August.

The Coinbase-incubated network was particularly susceptible to digital signature issues, with nearly 22,000 tamper-related detections in standard libraries like SafeMath. Malicious Boolean checks on token transfers also posed significant risks, with more than 6,300 cases identified in Base. These controls could block or manipulate token transfers, presenting a key vulnerability.