Fintech firm Eco has unveiled Beam, a peculiar crypto wallet that helps payments on Layer 2 networks like Optimism and Coinbase’s Unpleasant protocol. The wallet incorporates tale abstraction, made attainable by the Ethereum frequent ERC-4337, which permits programmable dapper contract wallets.

Per Andy Bromberg, the CEO of Eco, the wallet doesn’t require users to have ETH in expose to send tokens on-chain for mounted, low fees.

“Beam is a stablecoin & ECO payment wallet that looks and feels as worthy like a web2 P2P app as anything else I’ve ever considered. Fancy global, onchain Venmo,” he talked about on Twitter.

The wallet comes with aspects that can likely construct onboarding Web3 users a long way extra simplified. As an instance, unlike other self-custodial crypto wallets, users won’t must web the utility and may per chance well presumably invent a wallet address via a QR code on the Beam web aim.

This QR code will generate a link to a wallet address, to which users can transfer USDC from their modern wallets or advise Moonpay to convert fiat to crypto. Customers can also send this QR code to other users who desire to send them crypto, and backup their wallet by clicking “keep web admission to” and logging into their Twitter accounts.

On this technique, the user can web better their accounts via a Twitter login and password, rather then relying on the 16-be conscious seed phrase that other wallets require to web better crypto within the occasion that their plan fails.

The wallet makes advise of Web3Auth to backup accounts, a disbursed deepest key management resolution that facilitates digital identities as unhealthy-platform identifiers for blockchain applications.

Eco has raised $95 million in funding thus a long way and is backed by high-profile merchants like a16z, Pantera Capital and Coinbase Ventures. The wallet will give a steal to the protocol’s native token ECO and USDC.