Coinbase Prime Announces Launch of Institutional-Grade Web3 Wallet

Coinbase Prime, an institutional-grade crypto trading platform by the US-based Coinbase, announced Tuesday (September 12) the launch of its institutional-grade Web3 Wallet.

Coinbase Prime aggregates multi-venue liquidity, empowers advanced trading strategies, and helps deploy capital at scale.

The Web3 Wallet is fully integrated into Coinbase Prime, and offers access to crypto, NFTs, dapps, and DeFi.

Commenting on the launch of the new offering, Coinbase Prime said, "We have seen tremendous demand from institutions to get direct and secure access to web3 and DeFi. Institutional clients have been looking for reliable access but have struggled to find it in the current environment. Many of our own institutional clients have had to use a patchwork of fragmented solutions to access web3 up until now. With our Web3 Wallet, clients can easily access web3."

With Coinbase Prime Web3 Wallet, clients can interact directly with dapps and smart contracts, store any token from supported networks, tap into decentralized liquidity to trade a large range of assets, buy, sell, mint, and manage NFT collections, and manage web3 social accounts.

"Security and reporting are paramount, and we know that enterprises need a customizable, multi-user solution to fit their unique needs. We built the Web3 Wallet so that clients can tailor their processes to fit with their existing workflows," the company added.

Last week, Fazzaco reported that Coinbase has created a new crypto lending service​ in the U.S. for institutional clients, helping fill the void left by the blowups of firms like Genesis and BlockFi.