Eco Acquires Web3 Platform Join: Beam Wallet Users to Shop on Amazon and Shopify
Summary:
Eco, the company behind Beam wallet, has acquired the Web3 shopping platform Join. This merger will enable Beam wallet holders to make purchases from Amazon and Shopify. A simple Twitter login process for users is a distinguishing feature of Beam wallet, and it uses stablecoins for all payments and fees. The anticipated integration of Beam and Join is expected to bolster mainstream adoption of Web3 stablecoin transactions, leading to a seamless and user-friendly crypto payment experience on a global stage.
In a statement made on January 25th, Eco, the creator of the Beam wallet, has reported their latest acquisition of the Web3 shopping platform - Join. This fusion of Beam and Join sets the stage for Beam wallet holders to make purchases on Amazon and Shopify. The Beam wallet is developed on two networks: Optimism and Base.
Eco announced that they have created a waitlist in anticipation for the feature's February launch, as explained in a related X thread. At this moment, the Beam wallet stands out due to its simple signup process that merely requires a Twitter login, eliminating the need for the storage of seed words. Payments and gas fees within the wallet are undertaken via stablecoins.
Tom Dean, the CEO and co-founder of Join, expressed his belief that this unification will expedite the widespread usage of Web3 stablecoin transactions. He stated, “For cryptocurrency to be used as a valid currency, waiting for worldwide acceptance is unnecessary. Join was built with this in mind, and the integration with Beam is the next step in achieving this vision [...]. This demonstrates that as the crypto market continues to expand, user-friendly crypto payments are ready for global deployment."
Join was founded by Dean, Awad Ayoub, and Brad Crook, initially supported by investor Balaji Srinivasan and a grant from Base. Eco has also proven to be successful, securing backing from established venture capital firms such as Andreessen Horowitz, Coinbase Ventures, Founders Fund, Lightspeed Venture Partners, and Pantera Capital.
The Beam wallet is part of an emerging selection of wallets focused on improving user experience by removing the requirement for seed words or native-coin gas fees. Examples of this innovative approach include Immutable Passport, Kresus, and Worldcoin, each highlighting different signup features and fee structures.
Published At
1/25/2024 9:20:00 PM
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