[ad_1]
On March 8, Coinbase announced the launch of its Wallet-as-a-Service (WaaS) product. WaaS products aim to “bring the next hundred million consumers to Web3 through a seamless wallet-onboarding experience.” Coinbase WaaS offers a wallet infrastructure application programming interface (API) to enterprises, enabling them to build their own custom Web3 crypto wallets.
Coinbase’s Wallet-as-a-Service Aims to Simplify Onboarding
Coinbase Global (Nasdaq: COIN) has revealed a new addition to its suite of offerings and services: Wallet-as-a-Service (WaaS). In a Twitter thread, Coinbase stated that WaaS “is a scalable and secure set of wallet infrastructure APIs, enabling enterprises to create and deploy fully customizable onchain wallets.” Additionally, Coinbase’s wallet infrastructure provides “multi-party computing (MPC)” cryptography, eliminating the need to manage complex 24-word recovery phrases.
1/ Today we are introducing Wallet as a Service, making it easy for any company or brand to seamlessly log their users into web3 🛠️⛓️
…even if they have never used cryptocurrency before. pic.twitter.com/5IKUJHpQlS
— Coinbase (@coinbase) March 8, 2023
Coinbase details that crypto companies like tokenproof, Floor, third websiteAnd Moonlight already using Wallet-as-a-Service (WaaS). Coinbase believes that WaaS will help bring “the next hundred million consumers to Web3”. “More and more companies are realizing that Web3 is going to generate a massive new industry of decentralized apps and services, and they want to empower their customers to access it,” Coinbase said in the announcement.
“When users download the Tokenproof app, we will create their first wallet, powered by Coinbase, to welcome them to Web3,” said Fonz, founder of Tokenproof, in a statement. “This is a significant step towards making the space more approachable and accessible, and we are excited about the opportunity to work with such a trusted partner.” In addition to WaaS, Coinbase provides developers with a wallet software development kit (SDK), a payments SDK, a trading API, and other blockchain integrations.
What do you think about Coinbase Wallet-as-a-Service? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of a quote to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the authors are responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
[ad_2]
Source link
