Jeremy Allaire, co-founder and CEO of Circle, the issuer of the stablecoin USDC, shared on his personal Twitter account the latest beta version of Circle’s “Wallet-as-a-Service” feature. Developers can integrate their Web3 applications with Circle’s wallet services to lower the development threshold. Developer documentation has also been released for reference.
Circle’s Wallet-as-a-Service allows developers to choose who controls wallet private keys. According to current information on Circle’s official website and developer pages, the service offers two wallet versions: one where users self-custody their private keys, and another where developers custody the private keys. Developers can choose which method to embed into their applications based on their needs. Fees are charged per user wallet, meaning that if an application has fewer than 1,000 active users, the service fee is waived, making it ideal for initial testing by developers.
Currently, this Wallet-as-a-Service feature is still in the beta stage. The beta version only supports user self-custody of private keys. Users are required to set a secure PIN code and can create multiple wallets and store multiple wallet addresses simultaneously. Once the full feature is launched, developers will be able to deploy wallet versions with permission to control user private keys. Developers may offer either wallet type to users, but the control of wallet private keys must rest exclusively with either the user or the developer; both parties cannot simultaneously hold custody authority.
Both Circle wallet versions support Ethereum, Avalanche, and Polygon on both mainnet and testnet. They also provide dedicated mainnets and testnets, along with the specific tokens available on each chain. Transaction fees are charged during transactions.
Developers must register a developer account before using the service. SDK downloads are available for both iOS and Android platforms. However, only the iOS demo version is currently available on GitHub; the Android version has not yet been released.
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