• A Bitcoin Ordinals inscription has changed hands for $450,000
• The inscription was among the first to be inscribed on the Bitcoin blockchain
• The sale happened on the Solana NFT marketplace Magic Eden

A Bitcoin Ordinals inscription featuring a honey badger has changed hands for 10.5 BTC, roughly $450,000, on Magic Eden. The artwork was among the first inscriptions on the Bitcoin blockchain early this year during the hype around the Ordinals project. Magic Eden hailed the sale as a major milestone, with the sale coinciding with speculations of the start of a Bitcoin bull market.

Just Warming Up

The inscription was the first in the Honey Badger collection which has 10,000 inscriptions. According to Magic Eden, an X (formerly Twitter) user pseudonymously known as OG General is the new owner of the NFT.

We just witnessed the highest Ordinal sale of all time…

Inscription #8

10.4 KUBET SALE you are a LEGEND

— Magic Eden on Bitcoin (@MEonBTC)

In an X post, OG General said that they’re “just warming up” adding that the inscription was imprinted on Bitcoin at a time when “almost no one” thought Bitcoin NFTs would become popular.

Inscription #8 was inscribed when almost no one cared about inscriptions, on Jan 15 at 1 sat/vB. ” Ordinals Can not be stopped !! ” Back to work , I am just warming up. LFG !! Thanks to the legends and for providing an early insight to me months ago about…

— OG General (@TheOG_General)

Magic Eden’s Chris Akhavan told Decrypt that the sale brings new energy into the Ordinals ecosystem. Akhavan added that the energy proves that NFT collectors see value in Bitcoin inscriptions.

The sale comes nine months after the NFT exchange unveiled an Ordinals marketplace to popularize Bitcoin-powered collectibles. It also comes months after Magic Eden embraced the new Bitcoin Ordinals standard BRC-20 and announced a launchpad to support entities interacting with the Bitcoin Ordinals project.

Bitcoin Ordinals Exploiting a Vulnerability

The sale also comes a few hours after Bitcoin Core developer Luke Dashjr said that he’s developing ways to eliminate Ordinals from the network claiming the project thrives by “exploiting a vulnerability” on the blockchain.

Popular web3 platforms that have created NFTs on the Bitcoin blockchain include Bored Ape creator Yuga Labs while famed auction house Sotheby’s has announced its first sale of a Bitcoin Ordinals inscription.

With a Bitcoin inscription changing hands for over 10 BTC, it’s to be seen whether the interest will spread across the Bitcoin NFTs ecosystem.

The post Honey Badger Bitcoin NFT Sells For $450,000 appeared first on KUBET.

• Robinhood has expanded its international services by launching commission-free cryptocurrency trading in the European Union
• The app offers trading of more than 25 coins, with a loyalty program crediting users a percentage of monthly trading volume in bitcoin
• The app, live since Thursday, marks the company’s entrance into the EU, overcoming historical regulatory concerns

Robinhood is expanding its international presence by launching commission-free cryptocurrency trading in the European Union, following its recent debut in the UK with stock-broking services. The app, which went live yesterday Thursday, will enable European investors to trade over 25 cryptocurrencies, with a loyalty program crediting users a percentage of their monthly trading volume in bitcoin. Robinhood’s CFO said last year that the company was holding back some features due to regulatory uncertainty, but it seems that, in Europe at least, these concerns have been overcome.

Robinhood Still Has Appeal For Newbies

Robinhood was a catalyst for the incredible runs of some cryptocurrencies in 2021, most notably DOGE which ran 6,700% between January and May that year, with huge numbers of people using Robinhood to help run the price up. Robinhood has been registered as a virtual currency exchange operator in Lithuania since September and is working to secure approvals in more EU countries.

The company will eventually need full authorization as a crypto service provider in at least one EU member state when the Markets in Cryptoassets (MiCA) regime comes into effect in early 2025.

UK Expansion Could Come

Robinhood aims to generate revenue from its crypto brokerage through rebates from market makers and trading venues; in Europe, the rebate will be around 65 basis points per trade, almost double the 35 basis points earned from crypto orders executed in the US. Robinhood Crypto in Europe won’t initially allow users to transfer their crypto holdings outside of the app, but the company plans to introduce this feature next year along with additional tokens and staking services. 

While the company is happy to expand into Europe, its concerns over regulations mean that it doesn’t currently plan to extend its crypto services to the UK market until a MiCA-like framework has been established. Given that the UK is actively working on crypto legislation to boost its hopes of becoming a digital asset hub this may not be too far into the future.

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• Block has made its Bitkey self-custody wallet available for pre-order in over 95 countries
• The wallet aims to introduce newcomers to self-storage as well as serving existing Bitcoiners
• The wallet employs a 2-of-3 multi-signature design to eliminate lengthy passwords and seed phrases

Crypto company Block has unveiled Bitkey, its latest self-custody wallet, which is now available for pre-order in more than 95 countries. Bitkey aims to empower users by simplifying the secure management of their Bitcoin holdings, with Block looking to cater for both novices and seasoned Bitcoiners. The wallet includes a mobile app, hardware device, and comprehensive recovery tools, and utilizes a system that eliminates lengthy passwords and seed phrases.

No More Seed Phrases

Bitkey was , with the company promising the opportunity for users to “choose how you want to balance the convenience of using the app for transfers and the security of requiring the hardware for authorizing higher stakes money movement.” The standout feature of Bitkey lies in its 2-of-3 multi-signature design, eliminating the need for complicated passwords or seed phrases. This innovative system utilizes three keys to secure Bitcoin, requiring any two keys to authorize transactions or perform security-related actions.

We’re excited to announce people in 95+ countries can now pre-order Bitkey!

Bitkey is the self-custody bitcoin wallet with an app to send on the go, hardware to protect your savings, and recovery tools in case you lose your phone, or hardware, or both.

— Bitkey (@Bitkeyofficial)

Bitkey ensures enhanced security by distributing two keys directly to users; one key is housed within the mobile app, providing convenience for transactions and security management while the second key is securely stored offline within a hardware device, serving as both a security enhancement and a recovery method in case of a lost phone.

The wallet also incorporates a third key stored on Block’s server, allowing seamless mobile transactions and providing a failsafe option for wallet recovery in case of device loss. Crucially, Bitkey’s 2-of-3 multi-signature design ensures that Block cannot access or move a user’s bitcoin without explicit consent.

Block Wants to Encourage Self-storage

In addition to its robust security features, Bitkey has forged partnerships with major platforms like Coinbase and Cash App which will facilitate effortless transfers of Bitcoin from exchanges to the user’s self-custody wallet, streamlining the user experience.

Crypto wallets have by and large been the preserve of those with experience in the crypto sector, but Block hopes that its Bitkey will give novice users the confidence to store their own Bitcoin without the risk of making a mistake and losing it.

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• The Open Network blockchain (TON) experienced significant transaction delays this week due to heightened activity from a Bitcoin Ordinals-inspired protocol
• By Thursday, over 2.5 million pending transactions were recorded, causing the blockchain’s speed to dip below one transaction per second
• Inscriptions have caused issues on other blockchains, including Bitcoin and Polygon

The Open Network blockchain (TON) is experiencing significant transaction delays due to increased activity from a protocol inspired by Bitcoin Ordinals. Starting on Tuesday, the congestion saw over 2.5 million pending transactions recorded by Thursday afternoon, causing the blockchain’s speed to drop to less than one transaction per second. The congestion led popular TON cryptocurrency wallets, such as Wallet and Tonkeeper, to temporarily suspend services.

Tonano Launch Behind Lagging Transactions?

The issues appear to relate to the launch of Tonano, a service for creating blockchain inscriptions based on Bitcoin Ordinals, using the TON20 token standard. The severe congestion resulted from validator nodes running on insufficient hardware, rented for low loads with no provision for increased demand.

This insufficient provision resulted in inscriptions flooding the blockchain with data and clogging it up to near choking point, an issue that famously plagued the Bitcoin blockchain earlier this year when Ordinals launched. The storing of such data on the TON blockchain has been a controversial issue, as it has on all blockchains that have run an inscription-type service; the situation with Bitcoin has led to an influential developer labeling it a vulnerability in Bitcoin’s code and implementing a patch to ‘fix’ it.

Not the Last

A patch has since been issued to the TON blockchain to address the problem, and stricter penalties for lagging validators are planned for the future. With TON the latest in a line of blockchains to have to deal with inscriptions and the fallout of their implementation, we will almost certainly see more blockchains experiencing the same spike and concomitant pressures in the future.

The post Ordinals-inspired Protocol Grounds TON Blockchain appeared first on KUBET.

• Former Binance CEO Changpeng Zhao must stay in the US until his February 2024 sentencing for money laundering failure
• Zhao admitted to failing to protect against money laundering last month
• A federal judge overturned the ruling of a magistrate judge, who had initially allowed Zhao to return to the UAE until next year

Former Binance CEO Changpeng Zhao has been ordered to stay in the US ahead of his February 2024 sentencing for failure to protect against money laundering. US District Judge Richard Jones rejected the billionaire’s request to return to the UAE on Thursday following his guilty plea in November. Zhao and Binance admitted to failing to implement anti-money laundering policies and violating the Bank Secrecy Act as part of a broad agreement with prosecutors that allowed the exchange to continue operating and resulted in a $4.3 billion settlement.

$175 Million Bond Doesn’t Matter

Zhao faces up to 18 months in prison for his crimes, with a sentencing date set for February 23. Initially allowed to return home before this date, prosecutors argued he might not return due to his UAE citizenship and limited US ties. Despite a $15 million trust account, a $175 million bond, and additional funds, prosecutors contended that Zhao’s significant wealth and international assets posed a risk, especially with no US-UAE extradition treaty.

Zhao’s attorneys claimed the hardship this would place on Zhao and his family, and a US magistrate judge initially ruled that Zhao could return home as part of the plea deal. However, the state appealed and yesterday a federal judge agreed with the state’s petition, meaning that Zhao must now remain in the US over the festive period to await sentencing the next 11 weeks.

Binance Has Withdrawn Abu Dhabi License Application

The news about Zhao’s detention came on the same day that news of Binance withdrawing its application for an Abu Dhabi operating license. The request, filed a year ago, would have allowed the firm to manage a collective investment fund, according to the regulator’s website, but the company has decided that the application was “not necessary” according to a Binance spokesperson, with the company now “assessing our global licensing needs.”

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• A United States committee has passed a bill compelling the country’s commerce secretary to promote blockchain technology in the country
• It hopes to use the bill to become a leader in blockchain usage and development
• The bill seeks to introduce the best practices, policies and other factors to govern blockchain usage in the country

The United States House Committee on Energy and Commerce has passed a compelling the country’s commerce secretary to promote the use of blockchain technology in the country. It introduces best practices and policies to govern the technology’s usage in the hopes it’ll become a leader in blockchain development. Although the bill is yet to become law, it comes when other countries like China and the European Union have advanced in the field.

US Seeks to Redress China Dominance

Passed unanimously on December 5, the Deploying American Blockchains Act 2023 directs the commerce secretary to boost the country’s competitiveness when it comes to decentralized technologies like blockchain.

The Chamber commends for passing the bi-partisan “Deploying American Blockchains Act of 2023” (46-0!!!). This is the kind of common sense, useful legislation that we need to support this innovative industry.

Read the bill text here:

— Chamber of Digital Commerce (@DigitalChamber)

The bill suggests the creation of a committee whose membership will include entities from government agencies, stakeholders and experts in the blockchain space. It also suggests the use of blockchain technology by government agencies.

Individuals commenting on the bill congratulated the committee for the move, noting that it’s time the U.S. controls a section of the blockchain space that is majorly in the hands of China.

Thank you and ! This bipartisan bill will help preserve U.S. leadership in blockchain development, which is sorely needed.

If you think not, China currently owns 84% of all blockchain patents. It’s time for the U.S. to step up.

This bill helps.

— Cody Carbone (@CodyCarboneDC)

Has a Long Way Before Becoming Law

The bill now needs passing in the House, Senate, Congress and presidential approval before becoming law. 

Its passing comes a few weeks after U.S. lawmakers created a bill seeking to block government entities from interacting with Chinese blockchains. It also comes when other countries like Belgium and Japan are increasing their involvement with blockchain technology.

With the U.S. showing interest in blockchain technology, it’s to be seen whether it’ll overtake China in blockchain development.

The post US Passes Bill Promoting Domestic Blockchain Usage appeared first on KUBET.

• Terraform Labs co-founder Do Kwon has lodged a final appeal against a Montenegrin court’s extradition decision
• The Montenegrin Ministry of Justice will make a decision by December 15
• Despite Kwon expressing a preference for extradition to South Korea, the final decision remains uncertain and won’t be influenced by his stated choice

Terraform Labs co-founder, Do Kwon, is making a final appeal against a Montenegrin court’s decision for extradition to either the US or South Korea. Lawyers submitted the appeal to the High Court of Podgorica yesterday, and the Montenegrin Ministry of Justice will reconsider the case, with a final decision due by December 15. Kwon has expressed a preference for extradition to South Korea over the United States, but his preference is unlikely to sway the court’s opinion.

Korea and US Battle Over Kwon

Korean officials ruled last week that Kwon should be extradited from Montenegro amid multiple fraud charges related to the collapse of the UST stablecoin in 2022. The destination of his extradition is yet to be determined, with both South Korea and the US desirous of holding him accountable for the UST’s downfall, which caused losses exceeding $50 billion. 

The collapse occurred after Kwon consistently reassured investors of the project’s strength in the weeks leading up to the crisis.

The US Securities and Exchange Commission (SEC) initiated proceedings against him and Terraform Labs in February, alleging that Kwon masterminded a multi-billion-dollar crypto asset securities fraud and concealed information about the protocol’s stability.

Simultaneously, Korean law enforcement is pursuing Kwon for violating capital market rules through Terraform Labs. The Seoul Southern District Prosecutor’s Office’s Financial and Securities Crime Unit issued an arrest warrant against him and founding member Nicholas Platias.

Kwon’s fate will now be sealed on December 15 when the appeal court hears his case and decides whether his home for Christmas the US, Korea, or Montenegro.

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• Bitcoin Core developer Luke Dashjr has proposed a “fix” for Bitcoin Ordinals, which involves eliminating them
• Dashjr called Ordinals inscriptions “spam” that exploit a vulnerability on the network
• Dashjr’s plans have resistance from Ordinals enthusiasts committed to continuing the practice.

Bitcoin Core developer Luke Dashjr has claimed he has a “fix” for Bitcoin Ordinals…a fix that basically involves killing it. Dashjr’s controversial stance on Ordinals was revealed on X yesterday where the long-time developer opined that inscriptions, the process where data such as images and text are written onto the Bitcoin blockchain, are “exploiting a vulnerability” in the Bitcoin Core and do nothing but “spam the blockchain.” Dashjr has promised to “fix” the issue by removing the ability for anyone to add inscriptions, but his efforts may be wasted as Ordinals fans have vowed to continue the practice.

Inscriptions Are “Exploiting a Vulnerability” in Bitcoin

Ordinals took off earlier this year, with the resultant spike in traffic causing a huge bottleneck in the Bitcoin blockchain and a rise in transaction prices to bull market levels as a result. The suitability of Ordinals to Bitcoin’s core network has stirred debate, and Dashjr, who has been developing Bitcoin code since 2011, has had enough:

PSA: “Inscriptions” are exploiting a vulnerability in Core to spam the blockchain. Bitcoin Core has, since 2013, allowed users to set a limit on the size of extra data in transactions they relay or mine (`-datacarriersize`). By obfuscating their data as program code,…

— Luke Dashjr (@LukeDashjr)

Dashjr’s actions stirred a hornets’ nest, with one respondent on X, BennyTheDev, for being a “btc maxi cult member from the get-go,” but noted that the changes to the protocol don’t impact Bitcoin itself: 

What that basically is is an option to opt-out from executing transactions that have certain sizes or size patterns within scripts and acts purely on client level. It’s not a change in bitcoin itself.

BennyTheDev noted that if DashJr tried to force the measure on miners and node operators they would simply “turn this off…because it imho isn’t “precise science” and could harm miner’s income stream, even those not Ordinal-related.” 

One Ordinals fan posted that he would carry on using the service, summing up the thoughts of many:

Dear Luke,

Whether it gets added to Bitcoin Core v27 or not (hint: it won’t) the inscriptions will never stop. People will pay for them and miners will mine them.

As long as the market demands it, there is nothing you can do to stop it. You will save yourself years of…

— trevor.btc (@TO)

The post Luke Dashjr Promises to “Fix” Bitcoin Ordinals…by Killing It appeared first on KUBET.

• Société Générale has launched its stablecoin, EUR CoinVertible (EURCV), on Bitstamp
• EURCV is fully backed by cash deposits and has started with an $11.3 million market cap
• Société Générale is the first big bank to offer such a product

Société Générale yesterday revealed that it will launch its own stablecoin, EUR CoinVertible (EURCV), on the Bitstamp cryptocurrency exchange, making it the first major bank to do so. The move signifies a major entry for traditional financial institutions into a domain primarily occupied by specialized digital asset firms. Bitstmap says that the EURCV is backed by deposits in euros and cash equivalents and is secured by a legal structure guaranteeing protection from market crises’.

$11.3 Million Market Cap

Société Générale’s EURCV coin, which is listed globally apart from the US and Singapore, has a total supply of 10.5 million, giving it a market cap of $11.3 million. This puts it in 44th place in the global stablecoin rankings, sandwiched between the YUSD and USDX stablecoins.

In the launch of the EURCV, Bitstamp said EURCV/USDT and EURCV/EUR trading pairs will initially be available, with more pairs and purchasing avenues and full trading options opening up “as soon as the order books gain sufficient liquidity.”

Jean-Marc Stenger, CEO of Société Générale Forge, the bank’s digital assets unit, told the that there is room for a bank in the stablecoin sector and envisions its stablecoin facilitating settlements in digital bonds, funds, and other assets on crypto exchanges:

The crypto ecosystem is highly concentrated on a few existing stablecoins, 90 per cent denominated in US dollars . . . we definitely think that there is a place for a bank in this field and there is a place for a euro [denominated] stablecoin.

MiCA Regulation Factored In

While other major banks, like JPMorgan, have their own stablecoins, Société Générale aims to make its stablecoin widely accessible for trading. Stenger emphasized compliance with the EU’s MiCA regulation, which becomes effective next year, setting its stablecoin apart from others in terms of regulatory alignment.

Société Générale envisions the stablecoin being utilized on different platforms and across various financial services, with no exposure risk to the bank itself and direct recourse on the collateral asset. The move reflects a broader trend among asset managers and banks exploring tokenizing assets such as bonds and funds as digital cash adoption gains traction.

The post Société Générale to Launch Stablecoin on Bitstamp appeared first on KUBET.

• ThirdWeb has detected vulnerabilities in common Ethereum NFT smart contracts
• The web3 platform said it won’t disclose the exact vulnerabilities to the public to avoid malicious actors from taking advantage
• Some NFT projects have started reviewing their smart contracts for any security weaknesses

NFT projects have started looking for weaknesses in their projects after web3 platform ThirdWeb detected vulnerabilities in common smart contracts on the Ethereum blockchain. ThirdWeb didn’t disclose the actual weaknesses for fear that malicious actors may take advantage of the vulnerabilities. Some NFT platforms like OpenSea have contacted ThirdWeb in an attempt to investigate and fix the problem, an indication that web3 platforms take security seriously.

Vulnerability Yet to be Exploited

According to ThirdWeb, the vulnerability is spread across the web3 space, especially for NFT projects using Ethereum’s ERC-721, ERC-20 and ERC-1155 standards.

IMPORTANT

On November 20th, 2023 6pm PST, we became aware of a security vulnerability in a commonly used open-source library in the web3 industry.

This impacts a variety of smart contracts across the web3 ecosystem, including some of thirdweb’s pre-built smart contracts.…

— thirdweb (@thirdweb)

The web3 firm however noted that the security hole is yet to be exploited, adding that the vulnerability is found on “pre-built smart contracts.” The firm has created a tool to assist affected projects to take mitigation measures.

Affected projects can protect themselves by either “locking the contract [or] taking a snapshot and migrating to a new contract without the known vulnerability,” adding that the actual measures depend on “the nature of your smart contract.”

We’re in Touch with ThirdWeb

The revelation has seen leading web3 platforms disclose that they’re working with ThirdWeb to fix the security weakness. NFT marketplace OpenSea, for example, said that they’re “in touch with ThirdWeb about the security vulnerability.”

We are in touch with about the security vulnerability impacting some NFT collections. Stay tuned for more info on how we can assist affected collection owners with any changes on OpenSea tied to contract migration. Please read ’s post below for more detail.

— OpenSea (@opensea)

Mocaverse, a gaming platform, that it has already acted on the information. NFT project Cool Cats has also disclosed that it has “thoroughly investigated” its contracts for any of the mentioned vulnerabilities and its “primary collections are confirmed secure.”

Important Update: In partnership with , we’ve thoroughly investigated recent security concerns tied to widely-used contract libraries. Great news — our primary collections are confirmed secure.

We’ll soon be migrating our Avatar System packs contract for even stronger…

— Cool Cats (@coolcats)

With most NFT projects seemingly affected by the vulnerabilities, it’s to be seen whether all affected projects will fix them on time before they’re exploited.

The post ThirdWeb Detects Vulnerabilities in Ethereum Smart Contracts appeared first on KUBET.

• Revolut has reportedly imposed substantial monthly price hikes on crypto-related businesses or threatened account closure
• A crypto marketing firm has revealed that Revolut recently informed them of an account ‘upgrade’ resulting in a 10x increase in monthly fees
• The affected company contends that it has kept its crypto and fiat banking activities separate for over a year

Revolut’s claim to be a crypto-friendly outfit isn’t being borne out, with companies working in the sector being stung with massive monthly price hikes or facing account closure. A crypto marketing company has told FullyCrypto that Revolut contacted it recently to tell it that the bank was upgrading its account to an Enterprise account, which carries a monthly fee 10x what the company is currently paying, even though the company is conducting less business and has doesn’t connect its Revolut account to its crypto usage.

Historical Crypto Dealings Costing Companies

Revolut pitches itself as a crypto-friendly bank, with companies and individuals allowed to buy digital assets through the institution, but it seems companies are feeling the perils of actually using digital assets for their purpose. The company in question joined Revolut in 2021 paying €29 per month for its ‘Growth’ plan, which its CEO says was more than adequate at the time.

The company is a small operation which occasionally gets paid in cryptocurrencies, although the crypto payments are handled through the company’s institutional account at a well-known exchange. The CEO says that its crypto income barely touches the Revolut account due to the conversion and transfer process involved, with no crypto funds having gone there in more than a year. It was a shock, he says, to have therefore received an email from Revolut telling him that it wanted to ‘upgrade’ his account at an increased cost of €292 per month. 

Revolut Blames New Regulations

The bank claims that the increased cost is due to the new UK regulations on crypto movements meaning more outlay from the bank’s end, but this belies the fact that the company doesn’t accept crypto into its Revolut account and no longer sends the proceeds of crypto into the bank, having not done so in over a year.

Revolut has said it will look into the case again, but its representative told the CEO that he didn’t think there would be a different outcome. The company is therefore looking for a new bank and is thinking twice about being involved in the crypto sector at all, seeing as even a tangential link can result in such outlandish costs.

The post Revolut Stinging Crypto Companies with 10x Price Increases appeared first on KUBET.

• Coinbase Wallet now enables users to send funds via text messages on platforms like Telegram and WhatsApp
• This move is part of Coinbase’s strategy to enhance the user-friendliness of Coinbase Wallet for a wider audience
• The new feature, starting with USDC, streamlines the process by not requiring the recipient to have a Coinbase Wallet at the time of sending.

Coinbase has unveiled a series of updates to its decentralized Wallet product including the ability to send send funds via simple text messages through popular platforms such as Telegram and WhatsApp. The introduction of this feature aligns with Coinbase’s broader strategy to make Coinbase Wallet, a decentralized product distinct from the custodial wallet on its exchange, more user-friendly for a broader audience. The new feature is available initially with USDC and doesn’t need the recipient to have a Coinbase Wallet at the time of sending. 

No Need for Coinbase Wallet at Both Ends

Coinbase Wallet users could already send USDC without fees, but they previously needed to know the recipient’s wallet address. The new texting feature eliminates this requirement, significantly streamlining the process, especially for international transactions between friends or family members. Another added bonus is the fact that the recipient doesn’t need to have the Coinbase Wallet already installed to get their funds; they receive a one-click prompt to install it and claim their funds. If unopened after two weeks, the funds revert to the sender.

Coinbase Wallet’s unique characteristic is that it grants users control over their private keys, avoiding the “know your customer” process typically associated with custodial wallets. Although this could raise regulatory concerns, Coinbase asserts that users, not the company, have ultimate control over their funds, placing the activity outside the company’s responsibility.

Coinbase Introduces “Simple Mode”

Coinbase has also introduced a “simple mode” for Coinbase Wallet, focusing on core functions like sending and receiving money. In addition to USDC, users can employ the new messaging feature to send bitcoin and other cryptocurrencies, although transacting with certain cryptocurrencies may incur network fees that exceed the transaction value or require the use of layer-2 blockchains. This introduces additional complexity somewhat at odds with Coinbase’s mantra.

By combining its global access with the user-friendly messaging service, Coinbase aims to foster the adoption of cryptocurrencies as a rapid and efficient cross-border payment solution—an objective the crypto industry has long aspired to achieve. The new features of Coinbase Wallet are set to roll out progressively starting this week and will be available to all users by the end of the week.

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