Coinbase Introduces CDP Wallets Offering Complete Custody, Eliminating Need for Key Administration
Coinbase unveils its new developer-oriented wallet architecture, CDP Wallets, which aims to offer complete control over cryptocurrency operations without the intricacies of key management. The innovative wallet system, according to the Coinbase Developer Platform team, minimizes the long-standing tradeoff between security and user-friendliness by utilizing Trusted Execution Environments and an API-first approach.
CDP Wallets are designed to operate within AWS Nitro Enclaves, ensuring that private keys remain secure and concealed from Coinbase. Unlike conventional wallets, developers can interact with the wallet solely through scoped APIs, enabling transaction creation, signing, and policy enforcement without the need for deploying or managing infrastructure.
Built with automation and composability in mind, CDP Wallets feature programmable policy enforcement, EIP-712 typed message signing, and compatibility with libraries like ethers.js and wagmi. The wallets support major blockchains, including Ethereum and Solana, and common programming languages such as TypeScript, Go, and Python.
Applications of the new wallet system range from automated DeFi bots and stablecoin payments to enterprise treasury operations and AI agents executing transactions based on smart contract logic. Additionally, U.S.-based developers can receive 4.1% USDC rewards on idle balances.
Now available in open beta, CDP Wallets represent a shift in on-chain infrastructure, offering programmable custody that is scalable, secure, and transparent to end users.
Meanwhile, a New Jersey county plans to tokenize $240 billion in property records on the Avalanche blockchain (AVAX). By tokenizing property records, the county aims to increase efficiency, transparency, and security in property transactions. The move is projected to save time and resources for both the county and the residents, making property transactions faster and more accessible.
- Coinbase's new wallet architecture, CDP Wallets, supports major coinbase like Ethereum and Solana, enabling developers to interact with tokens on these blockchains.
- Developers can create, sign, and enforce transactions using the API-first approach of CDP Wallets, eliminating the need for managing infrastructure, a feature that aligns with the technology of automation.
- The Solana blockchain, along with commonly used programming languages like TypeScript, Go, and Python, is compatible with CDP Wallets, providing a versatile platform for developers working on DeFi projects, ico, and more.
- The integration of the CDP Wallets with DeFi (decentralized finance) systems can help in creating automated bots for DeFi operations, as well as stablecoin payments.
- The Avalanche blockchain (AVAX) is set to tokenize $240 billion in property records, following the trend of using technology in finance to enhance efficiency, transparency, and security in property transactions, mirroring the philosophy behind CDP Wallets.
