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Coinbase unveiled a developer-focused wallet that automatically activates 4.1% rewards on USDC balances.
Called Coinbase Developer Platform (CDP) Embedded Wallets, the product is part of and is aimed at giving builders the same secure, scalable infrastructure that powers millions of Coinbase accounts, according to an August 5 announcement.
CDP Embedded Wallets support Ethereum Virtual Machine (EVM)-compatible chains and Solana, pairing “web2-style” logins via email, SMS, and OAuth with self-custody.
Keys are secured in trusted execution environments (TEEs), while developers can define policies and plug into a unified toolkit for onramps, swaps, transfers, balances, staking, and rewards.
Coinbase says developers can create brandable wallets in under 200ms, then monetize idle balances via the native 4.1% USDC rewards.
Early use cases include remittances, payment links, DeFi marketplaces, B2B payroll, creator payouts, and gaming with on-chain assets and free USDC sends on Base.
As part of the beta, Coinbase Onramp customers can use Embedded Wallets at no cost through September 30.
US stablecoin clarity propels movement
Coinbase ties the launch to fresh US policy momentum on stablecoins. The GENIUS Act cleared the House on July 17. It was signed into law on July 18, establishing the first federal framework for dollar-backed stablecoins and signaling regulatory support for “faster, cheaper” payments.
The House also passed the CLARITY Act the same day, sending it to the Senate. The CLARITY Act would create a regulatory regime for digital assets other than stablecoins and give the CFTC sole authority over transactions in digital commodities.
With that backdrop, Coinbase says developers are moving quickly to build on stablecoin-native rails, and the wallet’s auto-rewarding USDC feature is positioned to ride that shift.
Coinbase frames CDP Embedded Wallets as a way to cut integration overhead, replacing stitched-together APIs with a single stack while keeping users in a non-custodial flow.
For builders, the proposition offers a faster path to market, complete with familiar logins, end-to-end onboarding, and built-in yield on idle USDC.
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