Coinbase Launches Wallet as a Service, Silvergate Shutting Down

Name: FS Insight
Price range: $$$

Mar 9, 2023

BTC -1.93% ETH -0.27% FXS 3.01% LDO 4.47% QQQ N/A% RPL 6.44% SPY N/A%

Market Update After January's total number of job openings came in higher than expected yesterday, initial jobless claims spiked this morning to 211k versus 195k expected, giving markets a slight boost. The $SPY and $QQQ are up 0.13% and 0.53%, respectively, at the time of writing. Crypto markets are mixed today, with $BTC trading at $21.5k (-1.03%) and $ETH trading at $1.53k (-0.27%). After being some of the biggest winners in the first two months of the year, LSD protocols have been underperforming so far in March. $LDO, $RPL, and $FXS are down 21.82%, 18.79%, and 26.04%, respectively this month. Many investors may be locking in gains as the macro-environment has increased in hawkishness in recent weeks.Coinbase has launched a new product called wallet as a service (WaaS), which companies can use to onboard its users to the digital economy seamlessly. Many companies currently face a multitude of challenges when it comes to integrating with Web3, such as users needing a crypto wallet to engage with digital assets and complete transactions. WaaS helps alleviate this problem by providing a scalable and secure set of wallet infrastructure APIs, allowing companies to create and deploy digital wallets for their end-users easily. WaaS also handles the storage of wallet seed phrases,

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