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<p class="is-style-lead">Coinbase has introduced a web3 wallet through its Coinbase Prime division, aiming to provide institutional clients with secure access to crypto, NFTs, and defi applications.</p> 
<p><a href="https://crypto.news/tag/coinbase/" data-type="link" data-id="https://crypto.news/tag/coinbase/" rel="noopener noreferrer nofollow">Coinbase</a>, the biggest US-based crypto exchange, diversified its offerings on Tuesday with a <a href="https://www.coinbase.com/blog/coinbase-prime-launches-web3-wallet" data-type="link" data-id="https://www.coinbase.com/blog/coinbase-prime-launches-web3-wallet" target="_blank" rel="noopener noreferrer nofollow">web3 wallet</a> designed for institutional clients.</p> 
<p>Introduced through its Coinbase Prime division, the wallet plans to provide an entry point for professional organizations into non-fungible tokens (<a href="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" data-type="link" data-id="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" rel="noopener noreferrer nofollow">NFTs</a>) and the broader landscape of decentralized finance (<a href="https://crypto.news/tag/defi/" data-type="link" data-id="https://crypto.news/tag/defi/" rel="noopener noreferrer nofollow">defi</a>).</p> 
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   <p lang="en" dir="ltr">Web3 made simple for institutions<br><br>Introducing Coinbase Prime Web3 Wallet <a href="https://t.co/qoSkJbc5EX" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/qoSkJbc5EX</a></p>— Coinbase Institutional 🛡️ (@CoinbaseInsto) <a href="https://twitter.com/CoinbaseInsto/status/1701622249017532898?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 12, 2023</a> 
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<p>The wallet allows institutional clients to access and manage a variety of digital assets, including <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/" rel="noopener noreferrer nofollow">cryptocurrencies</a>, NFTs, and decentralized applications (<a href="https://crypto.news/glossary/decentralized-applications-dapps/" data-type="link" data-id="https://crypto.news/glossary/decentralized-applications-dapps/" rel="noopener noreferrer nofollow">dapps</a>). While retail consumers have been active in these decentralized ecosystems for some time, institutions are only now starting to engage more broadly with them.</p> 
<p>Kevin Johnson, the vice president of institutional sales and trading at Coinbase, stated that the wallet was developed in response to increased interest from corporations in safely participating in on-chain activities, such as NFT drops and decentralized autonomous organizations (<a href="https://crypto.news/learn/what-is-a-dao/" data-type="link" data-id="https://crypto.news/learn/what-is-a-dao/" rel="noopener noreferrer nofollow">DAOs</a>).</p> 
<p> You might also like: <a href="https://crypto.news/coinbase-global-to-launch-lending-platform-for-institutional-investors/" rel="noopener noreferrer nofollow"> Coinbase Global to launch lending platform for institutional investors </a> </p> 
<p>According to Coinbase, the platform also enables institutions to store tokens from supported blockchain networks securely. It gives clients self-custody access to their funds, allowing direct interactions with dapps and <a href="https://crypto.news/introduction-to-smart-contracts-the-self-executing-contract/" data-type="link" data-id="https://crypto.news/introduction-to-smart-contracts-the-self-executing-contract/" rel="noopener noreferrer nofollow">smart contracts</a>. Johnson noted that the wallet is designed to integrate with existing Coinbase Prime accounts to maintain uniform safety measures.</p> 
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   <p lang="en" dir="ltr">Our multi-user wallet allows customized policies and workflows to fit your organization's needs. Coinbase Prime and Web3 Wallet reports are integrated to account for all web3 activity and provide a transparent audit trail.</p>— Coinbase Institutional 🛡️ (@CoinbaseInsto) <a href="https://twitter.com/CoinbaseInsto/status/1701622254444941438?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 12, 2023</a> 
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<p>An additional feature is the ability to implement multi-user setups with different permissions and configurations. This is particularly relevant for institutional clients who require multiple team members to manage digital assets.</p> 
<p>While this offers a layer of internal control over who can access and make decisions related to the stored assets, it’s essential to note that the effectiveness of such features would still be subject to the institution’s own <a href="https://crypto.news/learn/what-is-a-governance-token/" data-type="link" data-id="https://crypto.news/learn/what-is-a-governance-token/" rel="noopener noreferrer nofollow">governance</a> protocols.</p> 
<p> Read more: <a href="https://crypto.news/coinbase-collaborates-with-blackrock-to-offer-crypto-services-to-institutional-clients/" rel="noopener noreferrer nofollow"> Coinbase Collaborates with BlackRock to Offer Crypto Services to Institutional Clients </a> </p>

Coinbase expands offerings with web3 wallet for institutional clients

crypto.news

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