Cipher Browser app to merge with Coinbase
Cipher Browser confirmed that testnet will be one of the first features the company will bring to Toshi.
Cryptocurrency exchange Coinbase revealed that it is teaming up with Cipher Browser, a free mobile Ethereum wallet and browser, to integrate and merge the app’s features into Coinbase’s own browser product, Toshi.
As part of the arrangement, Cipher Browser founder Peter Kim will become head of engineering for Toshi. The startup is mostly a single person operation, so there isn’t much need for any significant staff restructuring.
“We’re committed to building the best Web 3 experience on mobile,” Cipher Browser said in a recent tweet.
Coinbase operates a decentralized mobile browser, first introduced in 2014, called Toshi. The browser acts as a wallet for Ethereum’s blockchain, allowing users to find Ethereum apps and send messages, similar to Cipher.
Cipher Browser confirmed that testnet will be one of the first features the company will be bringing to Toshi.
— Cipher Browser for Ethereum (@CipherBrowser) April 13, 2018
Neither company has disclosed further details of the deal.
Earlier this month, Coinbase announced that it plans to allow customers to withdraw assets associated with bitcoin forks. However, this does not mean that any of these assets will be added for trading. The American Bar Association (ABA) Section of Taxation recently proposed temporary rules regarding the federal income tax treatment of cryptocurrency hard forks, many of which occurred over the course of 2017.
In a separate blog post last week, Coinbase announced a startup-driven financing platform, Coinbase Ventures.
In March, the cryptocurrency exchange unveiled a tool that calculates crypto gains and losses for tax purposes.
In February, Coinbase created a new crypto payment option for merchants. The Coinbase Commerce button works in a similar way to the PayPal plugin but rather than accepting fiat currencies, the new service allows for virtual currencies to be integrated as electronic payments, offering a more efficient digital payment option.
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