TechFlow reports that Coinbase has launched a smart wallet that can be created without seed phrases and supports recovery options. Built on Coinbase’s Layer-2 network Base, it is currently in testnet phase.
Utilizing the popular account abstraction technology, it offers an account abstraction suite to sponsor gas fees. Coinbase stated that making smart wallets the default option aims to address current challenges in security and usability. These wallets are powered by "wallet-as-a-service," enabling developers to deliver customized blockchain wallets to users.
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