Coinbase Pay Debuts for Web3 Businesses, Developers Use


Coinbase will expand its Coinbase Pay to the bigger crypto ecosystem, letting Web3 developers and businesses integrate it, a blog from the company said.

MetaMask will be the first external wallet integration for Coinbase Pay.

Coinbase Pay is the company’s method for transferring or buying crypto to a wallet. With the more simplified fiat-to-crypto conversion, the company claims Web3 will become more accessible.

Web3 developers who want to use the program can contact the company to apply for access.

The company noted that investment in cryptocurrency is “time consuming, manual and expensive.” Customers have to convert their money into crypto before they send it to a wallet. The solutions can often come up short, including customers having to make manual crypto sends, log into different decentralized apps and copy and paste long wallet addresses leaving them vulnerable to error, along with various fees.

See also: Coinbase Registers With the SEC To Prevent Regulatory Setbacks

PYMNTS wrote that Coinbase has recently filed a registration statement with the Securities and Exchange Commission (SEC). The registration, according to the company, is supposed to be used for “potential prospective offerings which may include the sale of new securities for general corporate purposes.”

The filing is intended to help get access to capital markets in quickly. The company doesn’t have a plan to offer securities, but it will be able to in the future if needed, with the registration.

PYMNTS wrote that the company’s primary objective could be to address the uncertainty surrounding the definition of crypto being “security” under U.S. federal law.

Coinbase said in the filing that the SEC doesn’t usually provide advance guidance on any crypto assets as a security. The SEC’s views have evolved over time, and it’s hard to predict the direction or timing of further evolution.