Coinbase, the largest U.S.-based cryptocurrency exchange, has officially launched its new Smart Wallet product this week, aiming to bring user-friendly crypto access to the masses. The innovative wallet is designed to eliminate the common barriers of self-custody by removing seed phrases and enabling easy wallet recovery through existing authentication methods like Face ID and Google accounts.
The Smart Wallet is built on the Ethereum Layer 2 network Base, which Coinbase launched in 2023 to offer faster and cheaper transactions. With this new wallet, users can instantly create a wallet within seconds, without needing to download an app or manage complex recovery keys—an approach Coinbase says will be crucial in onboarding the next billion users into Web3.
“We believe this is the missing piece to make crypto usable for everyone, not just developers or hardcore enthusiasts,” said Sid Coelho-Prabhu, Coinbase’s Director of Product Management. “It’s about making crypto as easy to use as any mobile app.”
The wallet supports multiple blockchains out of the box, including Ethereum, Base, and Optimism, and is fully open source. Developers are encouraged to integrate it directly into decentralized apps (dApps), allowing users to seamlessly transact, stake, or participate in governance directly from their browsers or mobile devices.
Industry observers in Los Angeles and beyond are calling it a major step toward mainstream crypto adoption. With tech-savvy LA residents increasingly exploring digital assets and decentralized platforms, Coinbase’s Smart Wallet could be the gateway product that finally demystifies crypto for the average user.