American cryptocurrency exchange Coinbase announced on Wednesday (5th) the launch of a new “Smart Wallet” in hopes of improving user experience and making it easier and faster for customers to get on the chain.
In a statement, the company said that Coinbase designed this new smart wallet with the idea of making it easier for users to get started. New users can now create a wallet using “Face ID, Google Chrome profiles, fingerprint, or Yubikey, without the need for a recovery phrase.”
Coinbase also aims to address the frustrating issue of users being notified of insufficient funds with this new wallet, allowing users to pay on-chain fees using their own self-custodied wallet balance or Coinbase account balance to avoid “insufficient balance” situations. Coinbase also claims that gas-free transactions will be possible, with developers being able to sponsor transactions through paymaster integration.
The Smart Wallet from Coinbase supports eight blockchain networks, including Ethereum, Base, Optimism, Arbitrum, Polygon, Avalanche, BNB, and Zora, with plans to add support for more networks in the future.
