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- 1 Aptos Labs integrated Coinbase Pay into its Petra wallet and made things easier for millions of users.
- 2 Industry experts are saying that this update is significant as it’s making Web3 more adaptable.
- 3 It is also bringing forth new possibilities for the entire domain and other service providers.
Established in 2021, Aptos Labs is dedicated to the advancement of Web3 technology. Since its inception, the platform has been taking steps in the upgradation of this niche. It developed a scalable Layer 1 blockchain that helps developers build advanced solutions. The platform works with a team of talented designers, researchers, engineers, and strategists. Recently, it took yet another step to make Web3 usage easier for users.
Details into the News
Aptos Labs has integrated Coinbase Pay for all the Petra crypto wallet users. This move will significantly solve many problems that Web3 users were facing earlier. The R&D company developed Petra Wallet to bridge the gap between blockchain and Web3. However, the users were facing some issues due to payment limitations.
The wallet works with more than 160 decentralized applications at the moment.
Therefore, the update has become a major news for the users. This integration will make the onboarding and offboarding very easy for users. Moreover, it will be available on desktop as well as mobile applications. As per the Web3 experts, smooth onboarding is crucial for the ecosystem.
With that, the applications can ensure seamless transactions to the users. It also helps in the growth and adaption of the structure. Aptos’ CEO Mo Shaikh also shared some helpful information on this subject.
He said that the industry can’t expect widespread adoption of Web3 unless the basics are fulfilled. This integration plays a pivotal role in tending to one of the basic requirements.
How will it Impact the Working of Web3 Applications?
As of now, crypto users face issues when it comes to exploring other spaces using digital assets. Payment restrictions always became a major hurdle for them. So, this update opens up many possibilities for digital asset users. It would allow them to explore many other spaces like e-commerce, gaming, etc.
According to Shaikh, Aptos is making every possible effort to make Web3 accessible to everyone. Integrations of Petra and Coinbase make this domain much more feasible for everyone. They improve the user experience and broaden the possibilities for the entire industry. Furthermore, they play an instrumental role in attracting more people and businesses to adopt Web3 as a mainstream solution.
So far, it’s just been an experiment and people see Web3 as a thing of the future. When they start using the technology for practical purposes, they will realize that it is already here. It would also inspire organizations to utilize this technology for their day-to-day operations. Additionally, the timing of this update couldn’t be better. Reportedly, Coinbase is adding support for the lightning network.
The exchange is willing to make BTC transactions cheaper and faster with this move. Hence, this update will make them even better. Many industry leaders have lauded this update including Cathie Wood. She said that over 100 Million users will benefit from on-ramp transactions now. In fact, it is a positive development for the entire crypto industry. The markets are now expecting similar updates from other exchanges and firms too.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
