The Coinbase Wallet: A Secure Solution for Institutions
Coinbase has launched a new wallet product designed specifically for institutional clients. The wallet allows these clients to securely store tokens from supported networks and gain instant access to their self-custodied funds. It also enables direct interaction with decentralized applications (dapps) and smart contracts.
What sets this wallet apart is its integration with the safety and security of Coinbase’s existing Prime account. Institutional clients are particularly concerned about the security of their assets and having control over who can access and make decisions with those assets. This new product addresses those concerns, providing the necessary features to bring institutions onto the blockchain.
The wallet supports multi-user setups with different types of permissions and configurations, ensuring that safety measures apply to direct on-chain transactions as well. It offers similar features to Coinbase’s retail wallet but includes additional functions required by institutions with multiple team members accessing the wallet.
Institutions can now participate in on-chain applications with the features they require, thanks to the Coinbase Wallet.
Hot Take: Empowering Institutional Participation in On-Chain Applications
Coinbase’s launch of a specialized wallet for institutional clients demonstrates their commitment to facilitating institutional participation in on-chain applications. By addressing concerns related to asset safety, security, and control, Coinbase aims to provide a secure solution that meets the unique needs of these clients. With the integration of their existing Prime account, institutions can confidently store tokens, access funds, and interact directly with dapps and smart contracts. This move by Coinbase highlights the growing interest from corporations looking to engage with blockchain technology while ensuring a safe and controlled environment for their assets.
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