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Coinbase Launches Smart Wallet for Instant, Free USDC Transactions with 1% Fees

Jun 20, 2024, 05:48 PM

Coinbase has launched the Smart Wallet, a new feature designed to enhance the crypto ecosystem by allowing users to send USDC and other tokens instantly and for free. This new offering addresses common issues with traditional remittances, such as high fees and long wait times. One in eight Americans sent money abroad last year, often facing fees of $6 for every $100 sent. With Coinbase Wallet, users can send money globally via email or social apps, making the process as simple as sending a text message. The wallet also offers private messaging capabilities, enabling secure and instant transactions. This development aims to make cross-border transactions faster and more affordable, with fees as low as 1% for cashouts in Mexico compared to approximately 6% elsewhere.