MetaMask and Coinbase Pay became partners in expansion into Web3
The integration took place after Coinbase introduced the new payment platform “Coinbase Pay”.
On this page
At the moment, users of DeFi, NFT, and other decentralized apps have to carry out transfers by hand. At first, clients need to convert funds into cryptocurrency and only then send them to a wallet or decentralized app. Existing solutions cannot boast simplicity and convenience: first you need to manually send the cryptocurrency, then enter various apps, copy long wallets, and then paste them into the required fields. All this makes them vulnerable to user errors. In addition, almost every action is accompanied by a commission. When it comes to buying cryptocurrencies, it usually requires clients to enter their payment details, not existing balances.
Coinbase decided to approach the problem radically, and in early May, the exchange announced a new platform that would be created to facilitate trading and transfers of digital assets. Among the main advantages of the new platform, according to the developers, are ease, convenience, and the ability to trade digital assets within their ecosystem in two clicks.
We have created a common system of crypto payments, and in this case, it does not matter whether the payments relate to decentralized finance or non-fungible tokens,
the platform developers noted.
After that, Web3 developers accessed Coinbase Pay and integrated it into their dApps.
With the launch of Coinbase Pay, MetaMask became interested in it. Later, as part of the expansion into Web3, MetaMask decided to cooperate with Coinbase Pay, and a partnership agreement was concluded between them. According to representatives of the companies, this collaboration aims to simplify transfers and interaction with digital assets for users of both services.
It is worth noting that the simplification of the process of sending and receiving cryptocurrencies will be achieved due to the fact that all information about transactions and customer data will be stored on the exchange’s servers. MetaMask users will also be able to use this system without creating new accounts and wallets since the information will be synchronized with the exchange storages.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
