Coinbase Wallet users can now chat with each other directly on the platform.
Coinbase Wallet, a well-known cryptocurrency platform, has introduced an instant messaging feature.
This novel addition is powered by the Extensible Message Transport Protocol (XMTP), allowing users to interact using their Ethereum identities.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
In the announcement, Coinbase revealed that users can send private messages using each other’s .lens, .eth, and cb.id addresses. It is worth noting that, to access the tool, users must scan a QR code in the blog post or enter their Lens profiles.
Coinbase’s main drive behind this development is to curtail fraudulent activities within the cryptocurrency community. The ability to send messages directly to a specific wallet’s owner eliminates the need for third-party messaging platforms. This could provide a safer environment by minimizing the risk of interacting with unverifiable Web3 identities.
The company highlighted that its effort to leverage XMTP for instant messaging contributes to reducing its centralization.
If Coinbase decides to discontinue its wallet service or cease operations, the users’ chat histories remain accessible through other XMTP-based apps, such as Lenster or OrbApp, guaranteeing seamless transition and connectivity.
Your chats will transfer automatically, so you can focus on connecting.
When asked about this value proposition, XMTP co-founder Shane Mac emphasized the importance of XMTP as a protocol, not merely a social media or instant messaging app. He stated that XMTP allows applications like Coinbase Wallet and Lens to utilize it, giving users the freedom to select their preferred app without losing their identities or chat histories during transitions.
XMTP’s growth and attractiveness to developers underscore this point. Mac pointed out that over 400 developers are already building on top of XMTP, showing the protocol’s potential.
Moreover, Coinbase Wallet’s initiative to propagate Web3 usernames, demonstrated by offering free cb.id usernames last September, contributed to a sharp increase in registrations.
Coinbase Wallet’s adoption of XMTP signifies a step towards more interactive, secure, and user-friendly services within the crypto community.
