Coinbase Announces Wallet as a Service

Coinbase has announced the addition of Wallet as a Service solution to its services for developers. What is WaaS and what solutions does it offer? On March 8th, a company announced a new service that will simplify digital wallets and make Web3 technology more accessible to both companies and consumers. With this service, users will be able to use their digital wallets more easily and companies will be able to improve their business using this technology.

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Wallet as a Service

Called "Wallet as a Service", it consists of a set of developer tools that allow companies to integrate private digital wallets into their applications. By avoiding the technical structure of most standalone digital wallets, Coinbase says the goal is to make creating a wallet as easy as creating a username and password. This will make it easier and faster for users to use their digital wallets.

"Wallet as a Service" offered by Coinbase provides fully customizable and reliable APIs. This service is designed to provide companies with safe, secure and easy access to their customers. Instead of dealing with the nuances of blockchain infrastructure, companies can focus on delivering more value and innovative products to their customers. This service allows companies to provide a wallet to users who want to make cryptocurrency transactions within their own applications. This provides an easier and faster transaction experience for users.

Coinbase Wallet as a Service provides users with a seamless experience, giving them access to web3 wallets with web2 ease of use. Users can easily create, access and restore their wallets with just a username and password. These features make it easy for even users who have never used cryptocurrency before to start using web3 wallets. Wallets deployed using WaaS provide additional security using advanced multi-party computing (MPC) technology. Keys are securely split, encrypted and distributed across multiple parties without having to be managed by users. This keeps users' assets safe.

Users also have full control of their keys and can transfer their assets off the platform at any time. With our APIs, companies can build native wallets into their applications, providing a consistent user experience without redirecting users to a separate website/app. Coinbase has a proven track record of providing scalable and user-friendly gateways, so it can reliably serve hundreds of millions of users with WaaS.