The developer tool offers customizable wallets, USDC rewards and deeper integration with Coinbase’s Base app, aligning with recent pro-crypto legislation.
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Crypto exchange Coinbase is launching a developer tool aimed at simplifying wallet onboarding and boosting technical capabilities, as self-custody gains momentum in the United States following the passage of pro-crypto legislation earlier this month.
Offered through the Coinbase Developer Platform (CDP), the Embedded Wallets tool gives developers access to the same infrastructure that will power Coinbase’s forthcoming decentralized exchange, the company Tuesday.
The toolkit offers native rewards in USDC (), the stablecoin issued by Circle. Users can earn 4.1% APY on USDC balances held within the wallets, without requiring staking. According to the Coinbase Developer Platform, this APY can either be retained by developers or passed on to users.
The new developer tool is being targeted at developers across , gaming, payments and Web3 social media sectors. It arrives as into an “everything app,” now called the Base app after its layer-2 network.
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Coinbase pointed to the recent and the House’s approval of the CLARITY Act as pivotal developments for the growth of onchain finance and self-custodied wallets.
The CLARITY Act establishes a regulatory framework for the digital asset economy while , allowing users to hold cryptocurrencies without intermediaries. The legislation also recognizes the role of self-custody in enabling DeFi and peer-to-peer transactions, which are core pillars of crypto.
Meanwhile, the GENIUS Act regulates dollar-backed stablecoins, creating potential pathways into DeFi and other crypto sectors via digital dollar rails. favorable stablecoin regulations could drive more value onchain by enabling the tokenization of real-world assets.
In , Fabian Dori, chief investment officer at digital asset bank Sygnum, said the GENIUS Act paves the way for innovations in financial services beyond stablecoins.
“By providing long-sought-after clarity, it gives confidence to organizations and issuers to develop original, innovative ‘killer apps’ that don’t just serve their customers’ current needs, but create demand for entirely new services, including payments,” Dori said.
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