Crypto News

Coinbase new smart wallet seeks to attract 1 billion users on-chain by solving user problems

Coinbase new smart wallet seeks to attract 1B users on-chain

Coinbase crypto exchange has launched its intelligent wallet for users, with the goal of enhancing on-chain transactions by removing the need for recovery phrases and addressing other related problems.

The primary objective of the smart wallet is to amass a user base of 1 billion individuals on the blockchain by resolving issues such as network costs and recovery phrases.

It provides a decentralized on-chain experience without the need for gas fees and allows for seamless interaction with many blockchains, resulting in more cost-effective and convenient transactions.

Coinbase strives to enhance the accessibility, efficiency, and affordability of on-chain transactions for consumers. Developers have the ability to financially support consumer transactions via paymaster interfaces, and the wallet removes the need for specific words.

Moreover, intelligent wallets provide the seamless acquisition and trading of NFTs, as well as participation in many decentralized protocol activities, all with little effort.

The exchange will provide migration tools to existing clients, allowing them to activate smart wallets inside the Coinbase Wallet app. The intelligent wallet is anticipated to enhance the speed, convenience, and affordability of on-chain transactions for consumers.

Note that two weeks ago, Coinbase asked the US court on April 12 whether an investment contract may exist without post-sale responsibilities. The crypto exchange deems this a “controlling question of law” in their SEC dispute.


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