Wallet developer Beam Eco has acquired shopping app Web3 Join, according to a January 25 announcement. The new acquisition will integrate Beam and Join, making it easier for Beam wallet users to make Amazon and Shopify purchases. The Beam wallet works on the Optimism and Base networks.
1/ BIG NEWS: we've acquired @join to enable shopping online with stablecoins.
It's time to bring checkout onchain. No more waiting for the rest of the world to catch up.
Want to be the first to spend stablecoins on Amazon? Read on
— Beam (@beam_eco) January 25, 2024
According to X's accompanying thread, Eco has created a waitlist for the new feature, which will launch in February. The wallet currently allows users to register using just a Twitter login, without the need to copy and store seed words. It uses stablecoins for both payments and gas fees.
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Tom Dean, CEO and co-founder of Join, stated that the integration will allow Web3 stablecoin payments to go mainstream, stating:
“We created Join so that cryptocurrency can be used as a currency without waiting for the rest of the world to catch up. Seamless spending of stablecoins was the first step, and integration directly into Beam takes this vision even further […] As the cryptocurrency ecosystem continues to grow and we look at the start of the next cycle, this signals that the seamless, consumer-friendly cryptocurrency payment experience is finally ready to hit the global stage.”
Join was founded by Dean, Awad Ayoub and Brad Crook. It was initially supported by investor Balaji S. Srinivasan and a grant from the Base network. Eco is backed by venture capital firms Andreessen Horowitz, Coinbase Ventures, Founders Fund, Lightspeed Venture Partners and Pantera Capital.
The Beam wallet is one of several new “user experience”-focused wallets that attempt to eliminate seed words or gas fees for native coins. Others include Immutable Passport, which uses Google or Apple logins, and Kresus, which allows users to register using an email address. Worldcoin has also created a wallet that pays users for gas.