Coinbase Wallet has announced several major updates, including the Tap-to-Pay feature and support for Ethereum Layer 2 integration. These innovations aim to simplify the use of cryptocurrency payments and enhance user interaction with the Ethereum network.
Benefits of Tap-to-Pay for Users
At the recent DevCon event in Bangkok, Coinbase Wallet's lead Jesse Pollak announced the Tap-to-Pay feature. This feature aims to simplify payments for stores and merchants. According to Pollak, it will be especially useful for those already using Venmo or PayPal. The roll-out of the feature is expected soon.
Simplifying Stablecoin Payments
Coinbase Wallet now offers users the ability to link their bank accounts to receive stablecoins like USDC and USDT directly into their wallet. These stablecoins, with their stability, can be used for salaries and incomes. Pollak believes that using stablecoins can become a cost-effective alternative due to lower fees compared to credit cards.
Solving Ethereum L2 Interoperability Issue
Coinbase Wallet is working on solving the interoperability problem between different Ethereum L2 networks such as Base, Arbitrum, and Optimism. The solution, involving technical standards ERC-7683 and RIP-7755, will allow users to control assets within significant Ethereum L2 networks through a single module, greatly simplifying many current processes.
These updates in Coinbase Wallet are aimed at improving the user experience and simplifying the use of cryptocurrencies for everyday payments. The Tap-to-Pay feature and Ethereum L2 support will provide users with a more convenient and cost-effective way to conduct financial transactions.
