Users of Coinbase’s crypto wallet now have a communication channel.The crypto business, which is publicly traded, announced on Wednesday that its wallet product will feature encrypted texting.Any two Ethereum addresses can now speak with one other as long as they connect to the same messaging network using the XMTP communication protocol.Although not the first cryptocurrency wallet provider to experiment with Web3 messaging, Coinbase’s integration is unquestionably the most extensive.1.3 million users with usernames are included in its wallet.Even more people on Web3 social network Lens are included in the pool of messageable Ethereum addresses.
“Coinbase is enabling users to easily port their conversations from any of the ~450 applications built on XMTP to Coinbase Wallet,” said Director of Product Management Siddharth Coelho-Prabhu. “Its infrastructure allows Coinbase Wallet messages to be fully permissionless and interoperable while giving users the freedom to fully own their messages and transactions through their personal, on-chain identity.”
Unlike how asset transfers operate, messages are delivered to and from crypto wallets but are not really recorded on a blockchain.XMTP messages move throughout a network of nodes with permission that is managed by XTMP Labs.The business has stated that it is working to gradually decentralize this network.