- Petra will add Coinbase Pay to its mobile and desktop applications.
- It expects the collaboration to help make crypto transactions more seamless.
- Petra has integrated into more than 160 decentralised applications to date.
What does it mean for the web3 users?
The collaboration, it is convinced, will help make crypto transactions more seamless for the web3 users. According to Mo Shaikh – the Chief Executive of Aptos Labs told TechCrunch today:
In order to grow the web3 ecosystem, everyday activities like financial transactions have to be easier. Consumer adoption does not happen without it. Full stop.
Petra has already integrated into PancakeSwap, LayerZero, Pyth and about 160 other decentralised applications to date. Aptos had previously partnered with Sushi as well to secure access for users to non-EVM chains.
Shares of Coinbase Global Inc ended roughly 4.0% down on Tuesday.
Aptos has recently teamed up with Microsoft as well
Petra adding Coinbase Pay to its applications signals a multichain future, as per Will Robinson – the Vice President of Engineering at Coinbase.
The crypto market news arrives only days after the crypto exchange announced plans of integrating the Lightning Network that aims at setting up Bitcoin as a faster and cheaper mode of global payments (find out more).
In August, Aptos Labs also teamed with Microsoft on artificial intelligence and web3 integration. Working with such big names, it believes, improves user experience, increases appeal, and helps onboard more users.
The startup based out of Palo Alto awarded a grant worth $50,000 to blockchain lab at Cornell University this year.