Coinbase Introduces Crypto Wallets Integration Service
The Coinbase exchange presented Wallet as a Service, a platform for simplified integration of crypto wallets. The service is meant for the companies that have never encountered cryptocurrencies before and is reported to enable them to start use of the crypto wallets, which are easy to register and integrable into other services.
Patrick McGregor, head of Coinbase development department, is sure that the technology will make cryptocurrencies way more popular even among those who were not initially interested in them. He also emphasizes that an access loss to a crypto wallet is no longer a problem — if it happens, the user will get support from the company to restore it. The product has already been successfully tested by Floor, Moonray, Thirdweb and Tokenproof.
Earlier, Coinbase acquired the crypto asset management service called One River Digital Asset Management and is now going to change the name to Coinbase Asset Management. It is assumed that the platform will play an important role in the new Coinbase product distribution and will focus primarily on institutional investors. The Goldman Sachs investment bank had invested in One River Digital Asset Management before it was purchased by Coinbase.
Visa Cryptocurrency Card by Gate.io
Parent company of Gate.io is launching a Visa-based cryptocurrency debit card. The card can already be tested: the developers have opened the waiting list. The product will make it possible to convert digital assets into fiat currencies and vice versa to pay for goods and services in any store where standard Visa cards are honored.
Visa representatives stated that the company aims to simplify the interaction between “the crypto ecosystem and our global network of merchants and financial institutions.” The card will be issued through Gate Global UAB, a Gate.io branch in Lithuania. Experts suggest that it will combine the best market practices. Such platforms as Huobi, Bybit , Blockchain.com and BitOasis have already presented their branded crypto cards.
NFT is Back: Binance’s NFT Marketplace Now Supports Polygon Network, Amazon to Launch Its Own NFT Service
Binance’s NFT platform has added support for collections from the Polygon network. Only selected collections are integrated yet, but the developers promise that the number of tokens will increase in the near future. Users can now buy and sell tokens in Ethereum, BNB Chain and Polygon networks.
Despite a slight drop in markets’ interest in NFT, large corporations are getting into the game. For example, Amazon is set to launch its NFT marketplace on April 24, 2023. According to The Big Whale, the company’s website will have a separate tab called Amazon Digital Marketplace, which will feature 15 NFT collections. At first, this tab will be available to the US users only.
Andy Jassy first mentioned the possibility of selling NFT through Amazon back in the spring of 2022. Also in February 2023, Amazon Web Services was looking to hire a Web3 specialist. The job posting involved interacting with startups and corporations, developing the platform and expanding its product lines.
Kraken Crypto Exchange to Open Its Own Bank
According to The Block, Kraken is about to launch its own bank. Kraken’s Chief Legal Officer, Marco Santori, said, “Kraken Bank is on track to launch, very soon.” He also warned that caution in the banking sector could stifle innovation: “We’re returning to an era where banks are going to be very cautious as to what accounts they open. Wall Street is going to be fine. Kraken and Coinbase are going to be okay. But the guy or gal who has a new idea about how to provide infrastructure to the crypto economy, it’s going to be a really tough road over the next few years for them. No question.” Santori is convinced that recent events, such as the closure of Silvergate Bank’s SEN payment network due to the high risk to customers, indicate an unfavourable environment for crypto projects in the US.
Earlier, Kraken agreed to pay $30 million to the SEC to settle charges for failing to register a staking program. This situation, according to the company’s lawyers, will affect the range of the exchange’s products available in the US, as well as force users to turn to less secure offshore exchanges. Kraken’s business isn’t going smoothly in Japan as well: on January 31, 2023, the company announced the suspension of its operations in the region. The platform said it considered it “an unjustified decision to spend resources on further business development” in the country.
New Operating System For Blockchain
Near Protocol has launched the Blockchain Operation System, an operating system for blockchain. The platform focuses on easy interaction with the Web3 segment. The developers claim it is also compatible with Near Protocol and Ethereum Virtual Machine blockchains. “The composable decentralized front ends as a framework can work with any Web2 or Web3 back end and any wallet,” the company founders also report. The Blockchain Operation System is designed as a programmable interface to bridge different blockchain systems together. This will bring all Web3 apps together in one place. Web3 is one of Near Protocol’s core competencies. In February 2023, its nonprofit Near Foundation partnered with the New York University to launch a Web3 learning course. The Web3 Learning Workshop will be presented at the School of Professional Studies. The workshop is to last three days and will include classes on blockchain, digital assets and their use in the sports industry. Graduates of each cohort of the program will receive a reward in the form of NFTs. Tokens will be sent via a Near Protocol app with the necessary functionality.