Coinbase will release a smart wallet.
Developers can only access the Smart Wallet in testnet mode at this time.
Unraveled prospective launch date
An intelligent wallet with universal interoperability is now accessible on the testnet of Coinbase, one of the top cryptocurrency exchanges. Users on the platform are supposed to have a seamless and safe experience with the smart wallet.
To reassure its audience that early adopters will receive incentives, Coinbase detailed some of the significant features in a post on X. Additionally, developers can access special sessions on the platform.
The Smart Wallet’s Principal Features
The exchange’s expansion ambitions include making the new Coinbase smart wallet, which is now being tested on the testnet, available to users on the mainnet by the end of June. This action aligns with Coinbase’s expansionist mentality since the company recently expanded its digital asset project to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas by integrating with Meta to extend NFT functionality.
This Coinbase smart wallet offers a simplified sign-in process using passkeys with enterprise-grade security, in contrast to standard wallets that require browser extensions or complicated software installations. The function allows for seamless use and eliminates the requirement for complex seed phrases.
For users onboarding to the intelligent wallet, Coinbase is also offering benefits like gas credit and access to exclusive development sessions. Coinbase is using this wallet to maintain and grow its innovative edge in this fiercely competitive market.
The Universal Smart Wallet from Coinbase
The smart wallet also has easy integration, improved user experience, broad network compatibility, and simple access to Coinbase holdings.
Central Layer 2 (L2) networks and on-chain applications are designed to function worldwide with the CB smart wallet. Right now, Base, Optimism, Ethereum, Arbitrum, Polygon, Avalanche, and BNB are among the seven networks that it supports. Coinbase plans to extend this functionality to further networks.
This smart wallet has several unique features that enhance user experience and facilitate interactions with decentralized applications (dApps). Its easy integration into current systems makes developer onboarding more accessible.
The wallet uses passkeys, an enterprise-grade security feature, to improve security and eliminate the headache of complicated seed phrases. It also streamlines gasless experiences, making interacting with different decentralized platforms easier for consumers.
