Coinbase has unveiled a new solution for developers featuring embedded wallets promising automatic rewards on idle USDC.
Product Overview
The new tool, dubbed 'CDP Embedded Wallets,' is designed to assist developers in creating Web3 applications with scalable and secure wallets, achieving speeds of under 200 milliseconds without compromising on user experience and control.
Developer Benefits
The embedded wallets are compatible with EVM chains and Solana, providing Web2 user-friendly login options like email, SMS, and OAuth. Despite the simplicity, the wallets remain non-custodial, with keys secured inside trusted execution environments. Developers can enforce custom policies and access a unified API stack for transfers, staking, and more.
Impact on Stablecoin Market
The release coincided with new momentum in U.S. stablecoin regulation. The recently passed GENIUS Act provides the first federal framework for dollar-pegged digital assets, giving developers greater confidence in building on stablecoin rails.
Coinbase is continuing to expand its offerings for developers, helping them to build more user-friendly Web3 applications which may strengthen the stablecoin market.
