KoinlyticsCoinbase Smart Wallet (launched 2024) uses account abstraction (ERC-4337) with passkey-based signers. Users create a wallet with Face ID or Windows Hello. No seed phrase. Recovery via device biometrics + Coinbase-hosted key shard.
Passkeys as signers
Passkeys are the WebAuthn credentials your device already uses to log into websites. They live in secure enclaves (Apple Secure Enclave, Windows TPM). Coinbase Smart Wallet uses a passkey as the signer for the user's smart account.
Why this changes things
- No seed phrase to store, copy, or lose.
- Recovery is device-level: log into Apple ID, iCloud Keychain syncs your passkey.
- Multiple devices can hold passkey signers for the same account (with user's approval).
- Session keys let apps make repeated calls without prompts.
The trade-off
- You trust Apple, Google, or Microsoft's biometric stack.
- Coinbase's Smart Wallet contracts are the smart account implementation (audited but new).
- Recovery still needs Coinbase-hosted infrastructure for one path (or backup passkey).
Compatible with
- Any dApp that supports WalletConnect or Coinbase Wallet SDK.
- OnchainKit for developers to integrate directly.
Where it fits
- New users who would otherwise lose seed phrases.
- Consumer apps where sign-up friction kills conversion.
- Base ecosystem apps (native integration).
Where it doesn't
- Users who want fully self-custodial with no biometric-vendor dependency.
- Institutional (use Safe multisig or Fireblocks).