- New wallet will help attract 100 million customers to Web3
- Developers want to make their product as simple as possible
Cryptocurrency exchange Coinbase will launch a solution that will allow companies to set up blockchain wallets for their customers.
The service is called Wallet as a Service and is a set of developer tools that allow companies to embed their own digital wallets directly into their applications. According to Coinbase, the goal of the project is to make the wallet as simple as creating a username and password, for example. At the same time, avoid various technical difficulties that most digital wallets face today.
Wallet as a Service provides businesses with the infrastructure to create and run custom wallets. It also provides an application programming interface (API) with which you can create wallets for simple registration.
This service can be used by applications with games that have NFT. They can embed the wallet in the application and make it “almost invisible” to the end user.
Head of Product at Coinbase McGrerog stated:
“Wallet-as-a-Service has been in the making for over a year and has been designed to be one-size-fits-all. This makes it equally viable for a variety of businesses, be it retail, gaming or social media.”
He added that many companies are looking to build Web3 ahead of the next bull market.