Cryptocurrency exchange Coinbase announced Wallet as a Service to expand its Web3 business solutions.

The Wallet-as-a-Service (WaaS) platform is a secure and scalable suite of wallet infrastructure APIs that enables companies to develop and launch customized on-chain wallets for their customers. This allows businesses to provide their users with wallet services within their apps, with a user-friendly onboarding process that requires nothing more than a username and password. With WaaS, companies can easily create and deploy customized wallets that cater to the specific needs and preferences of their users.

According to Coinbase, the Wallet-as-a-Service (WaaS) platform provides a seamless user experience, allowing users to access web3 wallets with the ease of use of web2. WaaS wallets are secure, with advanced multi-party computation (MPC) and key ownership for users. Native integration with APIs allows for a cohesive user experience within applications. The platform is also built for scale, providing secure and scalable gateways to web3 that can serve hundreds of millions of users.