Coinbase's Wallet Service Now Lists Ink Protocol's New Payments Dapp

Ink Protocol, a decentralized platform for peer-to-peer (P2P) payments, announced Tuesday that its decentralized application (dapp), Ink Pay, is now available on Coinbase's Wallet app.

According to a news release, the new dapp enables buyers to evaluate a seller's reputation prior to making purchases – as well as leave their own feedback – and conduct transactions through third-party marketplaces using either Ink's XNK token or ethereum's ether. At some point in the future, Ink also said it intends to add a mediator or escrow function.

The XNK token is currently used as the primary form of payment for all transactions on its own marketplace, Listia, the release notes.

Currently, Coinbase doesn't seem to offer its app store in all jurisdictions served by the Wallet app.

According to Gee-Hwan Chuang, co-founder and CEO of Ink Protocol, over three million "real-world items" have been listed on the marketplace using XNK.

Chuang told CoinDesk:

"Ink Pay enables secure buying and selling on any marketplace, while earning public, transferable reputation for each transaction. With over three million real-world items listed using XNK already, we are joining Coinbase in moving past speculation and ushering in the important utility phase for crypto."

Ink Protocol's founders previously raised $15 million in an initial coin offering (ICO) to power the Listia platform, as previously reported by CoinDesk. ConsenSys Ventures and Tetras Capital participated in the funding effort, among other firms.

Coinbase image via Shutterstock