Share this article
Coinbase Adds Messaging Function to Crypto Wallet
The new messaging feature will let any two Ethereum addresses talk to each other.
Updated Jul 12, 2023, 3:55 p.m. Published Jul 12, 2023, 2:30 p.m.
Coinbase is giving its crypto wallet users a way to talk.
The publicly traded crypto company said Wednesday its wallet product will support encrypted messaging. The new feature lets any two Ethereum addresses communicate – provided they both plug into the same messaging backbone, a communications protocol called XMTP.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Coinbase isn’t the first crypto wallet maker to toy with Web3 messaging, but its integration is almost certainly the largest. Its wallet boasts 1.3 million users with usernames. The pool of messageable Ethereum addresses is even larger, including everyone on Web3 social platform Lens.
“Coinbase is enabling users to easily port their conversations from any of the ~450 applications built on XMTP to Coinbase Wallet,” said Director of Product Management Siddharth Coelho-Prabhu. “Its infrastructure allows Coinbase Wallet messages to be fully permissionless and interoperable while giving users the freedom to fully own their messages and transactions through their personal, on-chain identity.”
Although messages are being sent to and from crypto wallets, they aren’t actually being recorded on a blockchain (a difference from how asset transfers work). XMTP messages travel across a permissioned network of nodes controlled by XTMP Labs. The company has said it is working to decentralize this network over time.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
