The Utopia Labs team will join the Base network to accelerate Coinbase Wallet’s on-chain payments buildout.
Coinbase has bought Utopia Labs in a bid to build out the cryptocurrency exchange’s on-chain payments infrastructure, Coinbase said on Nov. 13.
Utopia Labs’ team will join Base, Coinbase’s layer 2 scaling network, “to help accelerate our onchain payments roadmap within Coinbase Wallet,” Coinbase said in a blog post.
“There’s a natural flywheel here: Base is supporting developers who build onchain apps, those apps attract users onchain, Wallet onboards those users, and in turn more users incentivizes more developers to build onchain,” Coinbase said.
