Coinbase adds instant messaging feature to crypto wallet

Coinbase ( NASDAQ: COIN ) Wallet will allow any two ethereum ( ETH-USD ) addresses to send instant messages to one another, according to a blog post dated Wednesday. The encrypted messaging feature is powered by XMTP, a communications protocol and network for secure web3 messaging. The crypto exchange said it will enable encrypted, decentralized, wallet-to-wallet messaging first for a small subset of users, including anyone who scans the QR code from the blog post or anyone who uses the Lens protocol. All users will gain access at some point in the future. COIN's feature comes as the company seeks to clamp down on fraud in the crypto space. "Gone are the days when you had to send a small balance to confirm a wallet address. No more guessing if a person’s social profile matches their wallet. Eliminate unnecessary risk and potential losses with the help of messaging." More on Coinbase and its wallet offerings: Coinbase announces Wallet as a Service for companies Coinbase forced by Apple to stop NFT transfers on its iOS wallet app Coinbase Pay launched to streamline adding funds to wallet