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Crypto exchange Coinbase to support Easy Bank Transfers for UK users

Coinbase, the popular bitcoin & crypto exchange company, announced today it will be rolling out ‘Easy Bank Transfers’ for UK users. The new feature delivers an easy way to add funds to Coinbase accounts.

Through a partnership with TrueLayer, one of Europe’s leading open banking platforms, Coinbase is able to support Easy Bank Transfers, which relies on open banking technology.

In the weeks ahead, users will be able to link their bank account directly with their Coinbase account, without needing to enter their bank details, for a more convenient and user-friendly experience.

“Coinbase is one of the first major crypto platforms to offer users rapid, secure deposits into their Coinbase account via open banking. Easy Bank Transfers solve these issues for Coinbase users: users no longer have to manually type out payee details, rely on copy/paste, be sent through long verification steps, or anxiously wait for confirmation that a payment was successful.”
– The Coinbase Team

Open banking delivers several other key benefits for Coinbase users, including:

• Security – No one can access users’ login details or banking passwords through open banking.
• Ease of Use – Transferring funds via open banking is often faster than making a conventional online transfer, especially on mobile, because of how your bank account is linked to Coinbase.
• Control – The user has full control over who sees their banking information, and is able to specify exactly what level of access is permitted.
• Safety – Companies can only take payments with the user’s authorization as the account owner.

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Biconomy releases new SDK for better crypto and blockchain development

Biconomy, a web3 development platform & toolkit that superpowers blockchain technology stacks, today announced it has launched a software development kit (SDK) to transform the way developers build easy-to-use decentralized applications (dApps).

Since 2019, Biconomy has been engaged with the web3 infrastructure space by building easy-to-integrate, plug-and-play APIs for developers to scale their projects. The Biconomy SDK introduces time-saving steps for developers such as reducing multi-step transactions into one-click interactions, simple-to-use smart contract wallets, and a conveniently gasless and chainless experience for users.

Easier Development

As institutional and retail adoption of cryptocurrencies and dApps grow, dApp developers can onboard more web2 users by hiding the nuts and bolts behind complex on-chain transactions. This way, the majority of web2 users can onboard and interact with dApps easily — playing games, buying and trading NFTs and other digital assets — without deep knowledge of blockchain technology. dApps can save their users a ton of time and costs.

“There is no point building in web3 if no one can use your products. User onboarding and retention are key for the growth of individual dApps and the crypto environment as a whole. Biconomy was built with the next billion web3 users in mind and we are fulfilling this goal by meeting developer and user needs. From gasless to one-click transactions, we are making sure engaging with web3 feels second nature and as easy as signing your name.”
– Ahmed Al-Balaghi, Co-Founder of Biconomy

The introduction of the Biconomy SDK opens up further opportunities. Developers can offer users practical UX benefits such as secure web2-like social logins and recovery for accounts.

One-click interactions for multistep transactions. Transaction batching removes the need for repeated authorization. Gasless and chainless experiences. Convenient fee payments in ERC20 tokens and fiat on-ramps and credit card purchases of crypto or NFTs.

Features

Biconomy SDK brings blockchain-agnostic, web2-like experiences to your dApp in a non-custodial manner.

Here’s what is possible with the SDK today:

• Easy User Onboarding – Social login, account creation & recovery to seamlessly onboard web2 users.
• Fiat On Ramp – Let end-users easily & reliably buy/sell crypto within a dApp.
• Gasless Transactions – dApps can sponsor gas fees to make user interactions as simple as web2 transactions.
• Paying Gas Fees In ERC20 Tokens –  Users can utilize any ERC20 asset in their wallet to pay gas fees.
• Custom Transaction Bundling – Allow developers to build methods to do transaction batching which enables users to execute multiple actions, even across multiple chains, in a single transaction (e.g. approve & deposit can be done in one transaction without changing anything in dApp smart contracts).
• Cross-Chain Contract Calls & Asset Transfer – Coming soon, the Biconomy SDK will provide in-dApp cross-chain asset bridging and contract calls to enable a chainless experience for end-users.

With its current API suite, Biconomy enables more than 50,000 transactions daily, with users’ gas fees sponsored by the dApps. It also allows users to pay fees in a token other than that of the blockchain.

This has already resulted in onboarding more than 2.8 million web3 users, more than 25 million transactions across 8 EVM chains, and integration with 200+ dApps including dYdX, Perpetual Finance, Aavegotchi, Decentraland, Sandbox, Animoca Brands, and Zedrun.

For more information on the Biconomy SDK check out the documents page.

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