Eco Acquires Join App, Boosts Web3 Shopping Capabilities for Beam Wallet Users
Summary:
Eco, the developer behind the Beam wallet, has announced its acquisition of the Web3 shopping app Join. The move allows for integration between Beam and Join, enabling Beam wallet users to make purchases from Amazon and Shopify. The integration marks a significant step towards making Web3 stablecoin payments mainstream. The Beam wallet, operating on the Optimism and Base networks, is slated to introduce this feature in February.
In a press release issued on January 25, Web3 wallet creator Eco announced the procurement of Join, a Web3 shopping platform. This strategic acquisition will allow seamless integration of Beam and Join, thus making online shopping on platforms like Amazon and Shopify accessible for Beam wallet users. Beam wallet functions on the foundations of the Optimism and Base networks.
Eco also informed that a queue is being set up for unveiling this innovative feature, which is slated for release in February. Current provisions allow users to register merely with their Twitter accounts, eliminating the necessity of storing seed words. The app permits transactions and gas fee payments with stablecoins.
Tom Dean, Join's co-founder and CEO, believes that this collaboration will normalize Web3 stablecoin transactions. He said that Join was conceived to enable practical usage of cryptocurrency, without waiting for the world to fall in line. Asserting that this frictionless expenditure of stablecoins via Beam furthers this vision, Dean emphasized that as the digital currency ecosystem expands and we prepare to enter the next cycle, it's an indication that user-centric crypto payment alternatives are prepped to capture the global market.
Join was initially set up by Dean, along with Awad Ayoub and Brad Crook, with financial backing from investor Balaji S. Srinivasan and a Base network grant. Similarly, venture capital behemoths like Andreessen Horowitz, Coinbase Ventures, Founders Fund, Lightspeed Venture Partners, and Pantera Capital endorse Eco.
Broadening the horizons of user-friendly wallet experiences, Beam wallet joins the club of several novel wallets that are working towards doing away with seed words or native-coin gas fees. Other wallets with similar agenda are Immutable Passport, which offers the comfort of Google or Apple logins, and Kresus, which enables user registration with emails. Worldcoin has also designed a wallet that bears user gas charges.
Published At
1/25/2024 9:20:00 PM
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