Eco Acquires Join to Enable Stablecoin Shopping
Eco Inc., the crypto payments company behind the self-custody wallet Beam, has acquired Join, a shopping app that allows users to purchase stablecoins at major merchants like Amazon and Shopify. This acquisition will integrate Beam and Join, enabling users to make Amazon and Shopify purchases directly from the Beam wallet. The new feature is set to roll out in February with a waitlist for interested users. The Beam wallet operates on the Optimism and Base networks and supports Twitter login for user registration. It uses stablecoins for payments and gas fees.
Integration Aims to Bring Web3 Stablecoin Payments Mainstream
Join’s CEO and co-founder, Tom Dean, emphasized that the integration with Beam aims to bring Web3 stablecoin payments into the mainstream, providing a seamless and consumer-friendly crypto payment experience. Users can now spend their Beam wallet balance directly on in-app purchases through a joint interface. Eco’s goal is to create a noncustodial wallet that embodies the decentralized promise of crypto.
Eco Acquires Join, Expanding Noncustodial Wallet Capabilities
Eco, an a16z-backed startup that raised $95 million in funding, launched Beam last year as a peer-to-peer global payments wallet. With approximately 80,000 users, Eco has now acquired Join to expand the capabilities of its noncustodial wallet for mainstream users. The recent advancements in the Ethereum ecosystem enable mainstream users to access the benefits of noncustodial wallets. Beam aims to provide a user-friendly platform for frictionless spending of stablecoins, making on-chain payments possible for mainstream users.
Creating a Seamless Crypto Payment Experience
Eco envisions Beam as a tool that abstracts the complexities of holding various stablecoins across multiple networks, providing an intelligent routing system. The integration with Join allows users to make Amazon and Shopify purchases directly from the Beam wallet, bringing Web3 stablecoin payments into the mainstream. This approach aims to create a seamless and consumer-friendly crypto payment experience. With the technological advancements in the Ethereum ecosystem, payments on-chain are now possible and ready for broader adoption.
Hot Take: Eco’s Acquisition of Join Expands Crypto Payment Capabilities
Eco’s acquisition of Join and the integration with Beam wallet marks a significant step in expanding the capabilities of noncustodial wallets for mainstream users. By allowing direct purchases from major merchants like Amazon and Shopify, Beam enables users to spend their stablecoins seamlessly. This move aligns with the growing trend of making on-chain payments more accessible and user-friendly. With Eco’s vision of creating a noncustodial wallet that embodies the decentralized promise of crypto, Beam is poised to provide a platform that abstracts complexities and delivers a frictionless crypto payment experience.
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