Coinbase has introduced a developer tool called the Embedded Wallets tool through its Developer Platform, aimed at simplifying wallet onboarding and enhancing technical capabilities in the crypto space. This launch coincides with an increase in self-custody interest following new pro-crypto legislation in the U.S. The tool provides developers access to infrastructure intended for Coinbase's decentralized exchange, offering customizable wallets, native USDC rewards, and a 4.1% APY on USDC balances without the need for staking. Targeted at sectors like gaming, payments, and Web3 social media, the toolkit has been unveiled as Coinbase transitions its application into an “everything app,” now branded as the Base app. The recent passage of the CLARITY Act, which establishes regulations for the digital asset economy, is seen as crucial for promoting self-custodied wallets and DeFi. Additionally, the GENIUS Act aims to regulate stablecoins, paving pathways for innovation in financial services, with experts suggesting it will inspire new app developments in the sector.

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