Coinbase is set to launch a new smart wallet, called Coinbase Wallet, that aims to provide users with a more convenient onboarding experience by eliminating gas fees and the need for a recovery phrase.
With the smart wallet, users can easily create a new wallet and onboard onto a blockchain without having to download a new app or remember a recovery phrase. Instead, the smart wallet will integrate with popular apps and use Face ID, fingerprint ID, or other methods for secure onboarding.
The wallet will also allow users to easily manage their assets and identities, and make payments from their Coinbase Wallet or Coinbase account. Developers can also choose to waive gas fees by sponsoring transactions through a paymaster.
The wallet will have a companion web app that will serve as the main interface for users, providing features such as asset and identity management, buying, sending, swapping, non-fungible tokens, and transaction history.
