Crypto exchange Coinbase has launched a new business solution for enterprises looking to offer Web3 wallets to their customers — a move it says will help streamline the adoption of Web3 products and services.
Coinbase’s wallet-as-a-service, or WaaS, provides enterprises with the technical infrastructure to create and launch customizable on-chain wallets, the exchange announced on March 8. Specifically, WaaS provides a wallet application programming interface (API) that allows businesses to create wallets for simple customer onboarding, loyalty programs or in-game purchases.
According to Coinbase, Web3 wallets have struggled to gain wider mainstream acceptance because of their complexity, poor user experience and the challenges associated with maintaining mnemonic seeds.
When asked about how WaaS solves the complexities of Web3 wallets, the head of product at Coinbase’s Web3
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