Coinbase Launches Wallet-as-a-Service to Simplify Crypto Onboarding
Coinbase, the popular cryptocurrency exchange, has announced the launch of its Wallet-as-a-Service (WaaS) product. The WaaS product aims to simplify the onboarding process for new users and bring the next hundred million consumers into Web3 through a seamless wallet-onboarding experience.
The Coinbase WaaS offers wallet infrastructure application programming interfaces (APIs) to companies, enabling them to build their own custom Web3 crypto wallets. This will allow companies to create and deploy fully customizable onchain wallets, making it easier for users to access and manage their cryptocurrencies.
In a Twitter thread, Coinbase stated that the WaaS “is a scalable and secure set of wallet infrastructure APIs, enabling companies to create and deploy fully customizable onchain wallets.” Additionally, the Coinbase wallet infrastructure provides “multi-party computation (MPC)” cryptography, which removes the need for users to manage their own private keys.
The launch of the WaaS product is a significant step forward for Coinbase, as it aims to simplify the onboarding process for new users and make it easier for them to access and manage their cryptocurrencies. With the rise of Web3 and the increasing popularity of cryptocurrencies, Coinbase’s WaaS product is well-positioned to capture a significant share of the market.
Coinbase has been at the forefront of the cryptocurrency industry, and the launch of its WaaS product is another example of its commitment to innovation and growth. The company has been expanding its offerings and services, and the WaaS product is a natural extension of its existing suite of products.
Overall, the launch of Coinbase’s WaaS product is a positive development for the cryptocurrency industry, as it will make it easier for new users to access and manage their cryptocurrencies. With the increasing popularity of cryptocurrencies, the demand for user-friendly and secure wallets is only going to increase, and Coinbase’s WaaS product is well-positioned to meet this demand.
