Coinbase Announces Wallet Service for Enterprises

US-based cryptocurrency exchange coinbaseto make it easier for companies to integrate into the Web3 space Wallet-as-a-Service (WaaS) announced a new service called

Wallet-as-a-Service is easily customized for industry branches that want to step into the new digital space. Web3 will make it possible to create wallets.

According to the crypto exchange’s blog post published today, the 24-word encryption technique and useless interfaces in decentralized crypto wallets prevent relevant individuals and companies from stepping into blockchain technology.

What Advantage Will WaaS Provide to Companies?

The new product launched by the Coinbase exchange will enable the customers of the beneficiary company to access wallet services without directing them to external applications. In this way, it is expected that the perception of reliability of enterprises will increase.

WaaS will also enable companies to provide a good experience to users without long development work in the Web3 space. Complex 24-word encryptions for customers will become a thing of the past. Multilateral Computing (MPC), which will replace long passwords, is a breakthrough in multi-signature technique, according to Coinbase officials.

Startups such as Moonray, Tokenproof and Thirdweb have already announced that they will use WaaS to increase their share in the digital market.