30s Summary

Coinbase Wallet is set to launch a ‘Tap to Pay’ feature worldwide, potentially challenging apps like Cash App, Venmo and PayPal. The firm also plans to connect user banks to its Wallet and aims to operate in 50 countries by 2025. Meanwhile, Base, a project launched by the same founder, is solving interoperability issues in Ethereum’s layer 2, gearing to support token transfers from Base to other layer 2 platforms.

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Guess what, guys? Coinbase Wallet is about to drop a “Tap to Pay” feature! Yep, it’s true. This is going to rival with apps like Cash App, Venmo, and PayPal. Jesse Pollak from Coinbase Wallet let the news slip recently. He’s also the founder of Base, and said the feature’s currently being tested and should drop soon.

Pollak thinks that their tap-to-pay option will be a game changer, especially for businesses that are already using apps like Cash App or PayPal. The new feature is going to work globally, which means everyone can use it no matter where they are in the world. Too cool, right?

And here’s the best part: by 2025, Coinbase Wallet hopes to operate in 50 countries around the globe. They even plan on connecting user banks to Coinbase Wallet. This means, you can easily get paid in stablecoins, like USD Coin (USDC) or Tether (USDT), which you can then convert into your own currency. How about that for a sweet deal?

In the meantime, Base is working on solving the interoperability problem in Ethereum’s layer 2. The good news is they’re making progress and expect to have everything sorted in the next six months or so. This will allow for token transfers between Base and other layer 2s for Ethereum, like Arbitrum One, OP mainnet, and Blast, opening up more use cases. And down the line, Base will extend to other layer 1s, allowing users to store their assets on Base and transact everywhere.