Cryptocurrency exchange Coinbase has acquired the Utopia Labs team to accelerate its onchain payments roadmap within Coinbase Wallet.
The Utopia Labs team has been building onchain payments products for years and will join Coinbase to bring low-cost, fast, and global payments to everyone.
Utopia Labs products will be shut down as the team focuses on accelerating onchain payments at Coinbase.
Coinbase aims to improve user experience as stablecoins continue to grow and enhance crypto's utility within payments.