Injective enables native INJ deposits on Coinbase with MultiVM technology

Coinbase is going native with INJ. The exchange will support native INJ deposits and withdrawals using Injective’s MultiVM infrastructure, marking a significant step in the Layer 1 blockchain’s push to untether itself from Ethereum’s ERC-20 token standard.

The migration is scheduled to take place between July 20 and July 22, 2026. During that window, Coinbase will pause all INJ deposits and withdrawals while it converts users’ ERC-20 INJ tokens to the native INJ format at a 1:1 ratio, at no cost. Once complete, Coinbase will exclusively support the native version of INJ.

What MultiVM actually means for users

Injective’s MultiVM Token Standard, or MTS, allows unified token balances across different execution environments, including EVM and WASM, without requiring users to bridge tokens between them.

Injective detailed its MultiVM Token Standard on November 10, 2025. The standard is part of a broader architectural vision that supports multiple virtual machines, including EVM, WASM, and an announced SVM environment. For developers, this means they can build applications in their preferred execution environment without fragmenting liquidity or user experience across different chain formats.

Coinbase isn’t the first mover here

Coinbase Custody actually began supporting native INJ back in December 2020, laying early groundwork for the broader retail migration happening now. And Kraken completed its own ERC-20 to native INJ conversion in 2025, making it one of the first major exchanges to fully embrace Injective’s native chain.

Injective itself is a Layer 1 blockchain purpose-built for decentralized finance. It offers low-latency transactions and native order books. The native INJ token powers governance, staking, and transaction fees within the ecosystem.

What this means for investors

Native token support on Coinbase means deposits and withdrawals will settle directly on Injective’s chain rather than routing through Ethereum. Injective’s MultiVM approach accommodates EVM, WASM, and eventually SVM developers under one roof with unified liquidity.

For INJ holders on Coinbase, the immediate action item is straightforward: do nothing. The conversion happens automatically at a 1:1 ratio with no fees. Deposits and withdrawals will be unavailable for a couple of days during the migration window.

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