Coinbase Wallet is set to unveil a new 'Tap to Pay' crypto payment solution, aiming to compete with Cash App, Venmo, and PayPal. This innovation was highlighted by Jesse Pollak during his talk at the DevCon conference in Bangkok.
New 'Tap to Pay' feature
Coinbase Wallet lead Jesse Pollak announced the new feature at the DevCon conference in Bangkok on November 13. 'Tap to Pay' is currently in internal testing and will be available soon. This feature will assist small merchants, who are currently using platforms like Cash App and Venmo, to offer more convenient and faster payments worldwide.
Stablecoin prospects
Pollak noted that part of the integration will involve connecting user bank accounts to Coinbase Wallet, allowing for payments in stablecoins like USD Coin (USDC) or Tether (USDT). He believes merchants will quickly learn how to leverage cheaper payments.
Solving layer 2 interoperability for Base
Base is working to solve the layer 2 interoperability issue for Ethereum and other similar platforms. In the next six months, specifications ERC-7683 and RIP-7755 are expected to be implemented, enabling trustless cross-chain operations.
Coinbase Wallet's innovations aim to enhance user capabilities and integrate stablecoins for more convenient and beneficial payments. Solving layer 2 interoperability issues also opens up new prospects for cryptocurrency ecosystems.
