Coinbase Unveils Smart Wallets
Coinbase Unveils Smart Wallets
Loopring Faces Security Breach, Robinhood To Buy Bitstamp Exchange For $200 Million
Coinbase has introduced Smart Wallets, a highly cutting-edge feature that makes the burdens of daily crypto activities seem obsolete.
The announcement describes Smart Wallets as entities residing in a browser with no extensions or installations required, without seed phrases, for universal one-wallet use across dApps and L2s.
The features include easy access to Coinbase balances, Passkey-based onboarding with no seeds, and gasless experiencees through fee sponsorships.
Smart Wallets are now on testnet, open for user waitlist and for developers to start building already.
Developers are enabled to build right after updating the Coinbase SDK or another supported service, and get educated on the feature by visiting the docs.
The Smart Wallet support works like any other EVM, without the need for custom additional services.
Initially, it will support 8 chains - Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB, and Zora.
"Smart wallets are secured by passkeys stored on the user's device."
A feature called Spend with Coinbase enables users to spend funds without holding any in their wallet - direct onboarding on-chain.
Smart Wallets should arrive on mainnet this quarter.
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