Crypto wallet for developers has been launched by Coinbase, emphasizing support for stablecoins.
In a significant move for the cryptocurrency industry, Coinbase, the leading digital asset exchange based in San Francisco, California, has launched a new feature called Embedded Wallets. This innovative tool is designed to make it easier for developers to integrate self-custodial crypto wallets directly into their apps [1][2][3][4][5].
The primary purpose of Embedded Wallets is to make cryptocurrencies, particularly stablecoins like USDC, more accessible and usable in a wide range of applications such as social apps, games, payments, DeFi, and token-powered tools.
Embedded Wallets offer several advantages, especially for stablecoin-related apps. They support USDC by default and offer rewards of 4.1% APY on USDC balances held in the wallet, requiring no staking [1][2][3][4][5]. Moreover, they enable developers to handle stablecoin payouts, tipping, and digital cash-style payments without exposing users or apps to crypto volatility [1][2][4].
Functionally, Embedded Wallets provide a seedless, plugin-free user experience. Users don’t need to write down seed phrases or install browser wallets—the wallet is created instantly via familiar login methods while users retain control of their keys in secure environments maintained by Coinbase [1][2][3][5]. Developers can also retain full control over the wallet interface and user experience in their apps, without having to manage custody, keys, or compliance complexities [5].
Embedded Wallets run on enterprise-grade infrastructure, using the same secure systems as Coinbase’s decentralized exchange (DEX), including key management and recovery services. They will also support advanced features like smart contract accounts in the future [5].
Coinbase believes that the regulatory foundations laid by the GENIUS and CLARITY acts in the U.S. have created an opportune moment to launch Embedded Wallets [6]. With major companies, banks, U.S. states, and even Meta and Amazon expressing interest in issuing stablecoins, the demand for such innovative solutions is on the rise [7].
Stablecoins, unlike Bitcoin or Ethereum, are non-volatile digital tokens typically pegged to the value of the U.S. dollar. Embedded Wallets, therefore, offer a more stable and practical option for users and developers alike.
Embedded Wallets are currently in beta, and they are integrated with onramps, swaps, and offer 4.1% USDC rewards. As Coinbase continues to expand its product offerings, including Base, an Ethereum scaling network, the company is poised to lead the way in the growing stablecoin market [8].
With Embedded Wallets, Coinbase is helping developers build the next generation of games, payments, DeFi, and social apps that leverage the benefits of stablecoins while mitigating the traditional complexities associated with crypto wallets [1][2][3][4][5].
- Coinbase, a leading crypto exchange based in San Francisco, has launched Embedded Wallets, a tool designed to integrate self-custodial crypto wallets into various apps.
- The purpose of Embedded Wallets is to make cryptocurrencies, such as stablecoins like USDC, more accessible and usable across a vast array of applications.
- Embedded Wallets support USDC by default, offering rewards of 4.1% APY on USDC balances, with no staking required.
- These wallets enable developers to handle stablecoin payouts, tipping, and cash-style payments without exposing users to crypto volatility.
- Users don't need to write down seed phrases or install browser wallets for the wallet creation, which happens instantly via familiar login methods, while they maintain control of their keys.
- Coinbase's Embedded Wallets run on enterprise-grade infrastructure, using the same secure systems as their decentralized exchange (DEX), including key management and recovery services.
- Stablecoins, unlike Bitcoin or Ethereum, are non-volatile digital tokens typically pegged to the value of the U.S. dollar, making them a more stable and practical option for users and developers.
- Embedded Wallets are currently in beta, integrated with onramps, swaps, and offering 4.1% USDC rewards. Coinbase is expanding its product offerings, including Base, an Ethereum scaling network, and set to lead the way in the growing stablecoin market.
- With Embedded Wallets, Coinbase is assisting developers in building the next generation of games, payments, DeFi, and social apps that leverage the benefits of stablecoins while mitigating the complexities associated with traditional crypto wallets.
