Coinbase has released a new developer tool designed to simplify the integration of wallet functionality with US cryptocurrency regulations while offering users a 4.1% Annual Percentage Yield (APY) on their USDC balances without requiring staking.
This tool specifically targets developers building applications within key sectors including decentralized finance (DeFi), gaming, payments, and Web3 social media, facilitating regulatory adherence.
The launch leverages the regulatory environment shaped by recent pro-crypto legislation, such as the GENIUS Act and CLARITY Act.
The GENIUS Act establishes a regulatory framework for dollar-backed stablecoins like USDC, while the CLARITY Act creates rules for self-custody wallets and peer-to-peer transactions within DeFi.
Integrated within Coinbase’s broader Developer Platform, the tool also supports the company’s upcoming decentralized exchange initiative by streamlining compliant wallet interactions.