Petra, a crypto wallet built by Aptos Labs, is integrating Coinbase Pay onto its desktop and mobile applications in hopes of alleviating Web3’s growing troubles, the companies exclusively told TechCrunch.
To date, Petra has integrated into over 160 decentralized applications, including Pyth, LayerZero, and PancakeSwap. The purpose of this partnership is to help alleviate the headaches that many Web3 users have with onramps and offramps (among other things).
“Easy onboarding is critical in Web3,” said Mo Sheikh, co-founder and CEO of Aptos Labs.
Fiat and Offramp are essential to onboarding millions of users to Web3, Sheikh said. “It may seem obvious, but for the Web3 ecosystem to grow, everyday activities like financial transactions have to be made easier. “Consumer adoption doesn’t happen without it. full stop.”
As non-financial use cases like gaming, e-commerce and loyalty programs reach enterprise categories, payments and crypto wallet onboarding will continue to be an important part of the Web3 experience for users.
Crypto wallets are currently more centered around the average crypto user and not focused on new users exploring the sector. However, over time, making user experiences more accessible will open wider doors for mainstream users, but whether those users will enter through those doors depends on a few other factors.
Such partnerships and integrations, especially those aimed at improving the user experience, are a step in the right direction, although, as it is, many crypto products and services are still technical and laborious.
Aptos has also recently partnered with Microsoft as well as Sushi, a decentralized exchange and automated market maker, to work on AI and Web3 integration to help give users access to non-Ethereum based chains. .
Will Robinson, vice president of engineering at Coinbase, thinks the integration also points toward a multichain future.
By leveraging big-name partners like Coinbase Pay, Sheikh said, Petra can potentially add more traction, bring more users to the sector and improve user experience and interoperability across chains and ecosystems.
Source: techcrunch.com
