Share this article
Coinbase, a16z-Backed 'Cash-Like' Crypto Wallet Beam Goes Live
Where most wallets require signing up, performing a degree of KYC checks, Beam users can send payments simply by using a link to a QR code. Thus it is aiming to create the closest possible equivalent to using crypto like cash.
Updated Jul 28, 2023, 3:55 p.m. Published Jul 27, 2023, 1:00 p.m.
Make us preferred on Google
Crypto wallet Beam, which is backed by notable digital asset investors, such as venture capital giant Andreessen Horowitz (a16z) and the investment arm of Coinbase (COIN), went live on Thursday.
Beam was developed by fintech firm Eco, the developer of a protocol of the same name. The wallet will support the protocol's native token ECO and stablecoin USDC, according to an emailed announcement on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Where most wallets require signing up, performing a degree of know-your-customer (KYC) checks, Beam users can send payments simply by using a link to a QR code. Thus it is aiming to create the closest possible equivalent to using crypto like cash.
The wallet is built on Ethereum layer-2 blockchains Optimism and Coinbase's Base, the latter of which is set for a public launch next month.
Eco said Beam was made possible by Ethereum's ERC-4337 implementation, which is seen as a key enhancement that could make it easier for users to recover crypto if they lose private keys to an online wallet, and Optimism's "Superchain" initiative, which is meant to greatly increase transaction speeds and reduce fees.
Simplifying the process of sending and receiving crypto is one of several problems which could pave the way an acceleration in mainstream adoption, which many developers are exploring solving. In March, the Wallet bot on messaging app Telegram enabled cryptocurrency to be sent in chats, with the facility for merchants to accept payments added earlier this month.
Eco raised around $95 million across five funding rounds between September 2019 and July 2021, with Founders Fund, Lightspeed Venture Partners, and Pantera Capital among the investors, as well as a16z and Coinbase Ventures.
Read More: Gnosis Lets Crypto Users Make Everyday Purchases From Wallets With Visa
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
