For crypto exchange giant Coinbase, 2023 is all about getting web3 into new markets and partnerships while onboarding more users into crypto.
On Wednesday, Coinbase launched its wallet as a service (WaaS), a scalable set of wallet infrastructure APIs that allow companies to create and deploy customizable on-chain wallets to their users. This means companies can natively integrate wallets directly into their apps so users won’t be redirected to separate applications to connect their wallets (like most web3 dApps require today).
“The theme [of 2023] really is this flywheel on the supply side of getting more web3-native apps created and also more web3 capabilities integrated into regular apps,” Will Robinson, VP of engineering at Coinbase, told TechCrunch. “That’s on the supply side, and on the other side is demand: more users coming into the space whether that’s because Base gives them the easiest way to go from being a retail user to playing on-chain for the first time or because the wallet as a service offering can onboard a whole new class.”
At its core level, Coinbase’s goal is to get more apps built and get more users into the ecosystem, Robinson said.