Coinbase new wallet solutions simplify on-chain onboarding and empower builders

Coinbase unveils new 'Smart Wallet' and 'Embedded Wallet' solutions to simplify blockchain adoption for developers and users worldwide.

Today, Coinbase, a leading crypto exchange, made a groundbreaking announcement regarding the development of innovative wallet solutions aimed at simplifying the blockchain experience for developers and users alike. These solutions, known as the 'Smart Wallet' and 'Embedded Wallet,' have been designed to revolutionize the onboarding process for newcomers to the blockchain world.

In an effort to support developers in bringing billions of users onto the blockchain, Coinbase introduced these two new wallet solutions. The Smart Wallet, a creation of Coinbase Wallet, offers developers the flexibility to choose a smart wallet solution that can be utilized across multiple apps. Alternatively, developers can opt for the Embedded Wallet, an app-specific wallet powered by Wallet as a Service.

Acknowledging the challenges posed by the steep learning curve and technical complexities associated with blockchain technology, such as handling seed phrases, signing transactions, and managing gas fees, Coinbase's new wallet solutions aim to simplify the on-chain onboarding process for new users while empowering developers.

The Smart Wallet, the first of the two new offerings, is a seamless addition to the Coinbase Wallet SDK, allowing for the instant creation of wallets within decentralized apps (dApps) by utilizing a passkey. Universally compatible, the Smart Wallet enables users to seamlessly transition between hundreds of EVM-compatible dApps already integrated with the Coinbase Wallet SDK.

On the other hand, the Embedded Wallets, powered by Wallet as a Service (WaaS), enable developers to create custom, embedded wallets that can be seamlessly integrated into their apps using familiar login methods like email or social media. This approach aims to enhance the crypto experience by ensuring smooth and unobtrusive integration for users.

Both the Smart Wallet and Embedded Wallets offer unique advantages. The Smart Wallet provides simplicity, security, and portability, allowing users to set up a new wallet within moments without the need for additional apps or extensions. Conversely, Embedded Wallets focus on seamless integration into apps, prioritizing user control and security with the backing of Coinbase's trusted infrastructure.

Coinbase invites feedback from the developer community on these new wallet solutions, encouraging builders to contribute insights and help refine these offerings with the goal of welcoming a billion users onto the blockchain. By prioritizing user-friendly design and seamless integration, Coinbase's new wallet solutions are paving the way for a future where interacting with blockchain technology becomes effortless for everyone.