Coinbase Unveils Messaging Feature for Coinbase Wallet
Coinbase has introduced a new messaging feature for its self-custody wallet product, Coinbase Wallet. This feature allows users to connect directly through their wallet, engage with communities, and send payments across various coins. The goal is to give users full control and ownership over their identity and chats, reducing the risk of potential losses.
Main Points:
– Coinbase Wallet has integrated with XMTP, an open protocol and network for web3 messaging.
– The messaging feature aims to address common issues faced by Coinbase Wallet users, such as sending crypto to the wrong address or dealing with fake online profiles.
– Wallet holders can send messages to and from Ethereum accounts, including CB.IDs, ENS domains, Lens profiles, or Unstoppable Domains profiles.
– Chats can be ported to other XMTP-compatible apps, and users can send payments using the USDC stablecoin without gas fees.
Simplifying Transactions for Web3
This new functionality simplifies transactions for Web3 wallet users, expanding the capabilities beyond buying, holding, trading, and transferring digital assets. By incorporating encrypted messaging directly into the wallet, users no longer need to switch between platforms to interact with others and confirm credentials. This development marks an important milestone for the Web3 wallet space.
Hot Take
Coinbase’s introduction of an encrypted messaging feature for Coinbase Wallet demonstrates the company’s commitment to providing users with a seamless and secure experience. By integrating messaging into the wallet, Coinbase is streamlining the transaction process and empowering users to connect and communicate directly within the crypto community. This move further solidifies Coinbase’s position as a leader in the cryptocurrency industry.