Leading cryptocurrency exchange Coinbase has recently unveiled an exciting addition to its wallet offering. In collaboration with the Extensible Message Transport Protocol project (XMTP), Coinbase has introduced an encrypted messaging feature in its wallet. This latest development aims to provide users with secure communication channels between Ethereum Layer 1 and Layer 2 accounts.
The messaging feature enables crypto enthusiasts to establish encrypted communication channels using crypto domain names from cb.id, Ethereum Name Service, and Lens profiles for identification purposes. The compatibility of XMTP with various identity solutions associated with blockchain accounts ensures seamless integration without requiring modifications at the blockchain level.
One of the noteworthy benefits of this feature is its interoperability. Messages tied to a Coinbase user’s wallet can effortlessly transition to other decentralized social media apps on platforms such as Lens Protocol, Lenster, Orb, and Converse.xyz.
This eliminates the need for additional steps and allows conversations to seamlessly continue across different platforms, providing users with flexibility and convenience. Furthermore, the messages are encrypted using security keys exclusively shared between the conversation participants, enhancing the overall security of the communication.
Coinbase has also streamlined the transaction process by integrating payment capabilities within the messaging interface. Users can now send payments to others using the USD Coin without incurring any gas fees. This integration eliminates the complexities associated with address input, merging the convenience of messaging with the functionality of payments.
Coinbase Wallet takes pride in being the first and only self-custodial wallet to feature integrated messaging on XMTP. This ensures that users have complete ownership of their cryptocurrency, identity, and communications, bolstering security and privacy.
The messaging feature went live today, and access will be provided to users who receive an invitational QR code from Coinbase. As Coinbase continues to push the boundaries of innovation and offer its customers with cutting-edge functionality, this release represents a major step forward in the history of bitcoin wallets.
It is anticipated that as the cryptocurrency sector develops, other exchanges and wallet providers will investigate similar messaging functions, using encryption and interoperability to provide crypto fans global safe and easy communication choices.
