Coinbase Launches Wallet-as-a-Service to Bring Millions to Web3 – Wallet-as-a-Service is the latest product and service announced by Coinbase Global (Nasdaq: COIN) (WaaS). A Twitter thread started by Coinbase described the WaaS as “a scalable and secure set of wallet infrastructure APIs, enabling companies to create and deploy fully customizable onchain wallets.”
The “multi-party computation (MPC)” cryptography provided by Coinbase’s wallet infrastructure also removes the need to remember a lengthy 24-word recovery phrase. Tokenproof, Floor, Thirdweb, and Moonray are just some of the crypto companies that Coinbase mentioned as adopting its Wallet-as-a-Service offering (WaaS).
People Also Read: China’s Wechat Adds Support for Digital Yuan Payments
Coinbase believes that the WaaS will aid in bringing the “next hundred million consumers into Web3.” “More and more companies are realizing that Web3 will generate a massive industry of new decentralized applications and services, and they want to empower their customers to access it,” Coinbase stated in the announcement.
“When users download the Tokenproof app, we’ll create their first wallet, powered by Coinbase, to welcome them into Web3,” said Fonz, the founder of Tokenproof, in a statement. “This is a significant step towards making the space more approachable and accessible, and we’re excited about the opportunity to work with such a highly trusted partner.” Besides the WaaS, Coinbase provides developers with a wallet software development kit (SDK), a payments SDK, the commerce API, and other blockchain integrations.
READ MORE
Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets
Unity Gaming Engine Launches Blockchain and Web3 Integration Options
Konami Launches Metaverse Push With Web3 Focused Hiring Spree
