Aptos Labs has added Coinbase Pay to its Petra cryptocurrency wallet

20.09.2023

Cryptocurrency wallet Petra, created by Aptos Labs, is integrating Coinbase Pay into its desktop and mobile apps in hopes of alleviating web3’s growth woes, the company told TechCrunch.

Petra is currently integrated into more than 160 decentralized apps, including Pyth, LayerZero and PancakeSwap. This partnership is meant to alleviate the headaches many web3 users face when it comes to onramps and offramps (among other things).

Fiat inputs and outputs are necessary to connect millions of users to web3. This may seem obvious, but for the web3 ecosystem to grow, everyday activities such as financial transactions need to be easier. Without this, user adoption will not happen. Full stop.

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As non-financial usage scenarios such as gaming, e-commerce and loyalty programs reach the enterprise category, payments and crypto wallets will continue to be an important part of the web3 experience in user adoption.

Currently, cryptocurrency wallets are more geared towards the average cryptocurrency user and are not designed for new users looking to venture into this space. However, over time, making the user experience more accessible will open doors for mainstream users, but whether they walk through those doors depends on a number of other factors.

However, partnerships and integrations like this one, especially those aimed at improving the user experience, are a step in the right direction as currently many cryptocurrency products and services are still technical and labor intensive.

Aptos has also recently partnered with Microsoft to work on AI and web3 integration, as well as with Sushi, a decentralized exchange and automated market maker, to give users access to non-Ethereum-based chains.

By bringing in high-profile partners like Coinbase Pay, Petra can increase its appeal, attract more users, improve user experience and interoperability between blockchains and ecosystems.