HomePress CoverageCoinbase Introduces Wallet as a Service for Seamless Onboarding to...

Coinbase Introduces Wallet as a Service for Seamless Onboarding to…

Coinbase Global, Inc COIN introduced Wallet as a Service (WaaS), a scalable and secure set of wallet infrastructure APIs that enable businesses to build and deploy fully customizable on-chain wallets at their end user.

  • Businesses can offer wallets to their users directly within their apps, with onboarding being as simple as a username and password.
  • WaaS is a powerful tool for businesses looking to leverage the potential of web3, whether to allow players to trade in-game items and currencies, or to create new opportunities for loyalty programs such as token-based rewards.
  • End-users can explore web3 without having to manage a complicated 24-word recovery set because Multi-Party Computation (MPC) cryptographic technology powers the WaaS. MPC allows a “key” to be shared between the end user and Coinbase. This means that self-held keys are secure even if a user’s device is compromised.
  • In addition, the advanced and automatic backup with MPC guarantees that even if an end user loses access to their device, the key to their web3 wallet is safe and can be safely stored.
  • companies like Floor, moonbeam, thirdwebAnd character safe Build WaaS with Coinbase to engage users in Web3 experiences across games, token-gated events, and digital marketplaces.
  • Visiting a website or interacting with a brand should be easier without leaving their platform. Will RobinsonVP of Engineering at Coinbase, called to TechCrunch. “We should allow people to go right there into web3 so that they are truly in control of their assets in a gated experience.”
  • Price promotion: COIN shares were trading up 2.3% to $63.39 at the last check on Wednesday.

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