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.
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When asked about how WaaS solves the complexities of Web3 wallets, the head of product at Coinbase’s Web3
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