Coinbase Prime announced its web3 readiness with the launch of a web3 wallet, a fully-integrated digital vessel through which clients can access crypto, NFTs, dapps, and DeFi. Web3 encompasses the concept of a new type of internet service that uses blockchains, the shared cryptocurrency ledgers, to operate.
Coinbase Prime introduces web3 wallet
The trading platform says the Coinbase Prime Web3 Wallet is part of the company’s continued commitment to harness cutting-edge technologies for its clients. On its website, it states:
We have always kept security and utility top of mind, and today marks another step in that evolution by providing institutional and enterprise clients a secure way to operate onchain with multi-user access via our Web3 Wallet.
Coinbase Prime further confirmed that, through capitalising on multi-party computation (MPC) technology, clients will be able to perform various actions, including storing tokens, gaining access to funds, and directly interacting with dapps and smart contracts.
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As the demand for web3 and DeFi escalates, the company says its clients searched for reliable access but came up short. Coinbase Prime confirms that many of its institutional clients resorted to fragmented solutions to access web3. The new wallet streamlines and secures this access.
Coinbase Prime attests that it streamlined the use of this product, making it an intuitive tool that is easy to navigate and use to perform all onchain operations. The platform claims it coupled this usability with top-level security, giving clients the freedom and peace of mind to interact and transact in the digital arena. The company stated:
Because our Web3 Wallet is built into Coinbase Prime, it leverages the same flexible team member permissioning for enhanced security.
