Saturday, June 25, 2022

Cipher Browser Is Joining Coinbase, Will Be Merged Into Toshi

Cipher Browser Is Joining Coinbase, Will Be Merged Into Toshi

Cipher Browser — the self-described “mobile Ethereum wallet and Web 3 Dapp browser that works” — is joining the ranks of the Coinbase team. In particular, Cipher’s creator Pete Kim will become the head of engineering at Toshi, Coinbase’s native Ethereum network browser, and will oversee the merging of Cipher’s features into Toshi.  

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‘Building the Best Web 3 Experience’

After welcoming Silicon Valley and Wall Street vet Rachael Horwitz on as VP of Comms just days ago, Coinbase just welcomed yet another acquisition to the team: Cipher Browser.

In an April 13th announcement, the Cipher team explained that founder Peter Kim would become the engineering head at Toshi. Moreover, the team noted Kim would imminently be managing the merging of Cipher Browser features into the Toshi browser.

And Coinbase chimed in, tweeting out their excitement over the company’s newest entrant:

Accordingly, Toshi users can expect the browser’s financial services to be enhanced and expanded under Kim’s supervision in the coming months. The exact terms of the merger, for now, have yet to be disclosed.

What’s It Mean?

Considering Coinbase’s recent announcement of forthcoming levels of support for Ethereum-based ERC20 tokens, the welcoming of Cipher Browser to the team seems to further indicate Coinbase’s desire to continue pivoting to the ERC20 ecosystem.

In a meta sense, too, Coinbase is clearly trying to boost its own ecosystem by attracting top talent to Toshi. The fact that Pete Kim is coming to Toshi suggests Coinbase believes investing in “Web 3” infrastructure is a fruitful, wise path forward.

The brave new world of DApps will need to have excellent, familiar browsers in order for mainstream adoption to really take off. So building up Toshi now shows Coinbase isn’t waiting around to watch others build the Web 3 first.

What’s your take? Do you see this move as a natural step in Coinbase’s apparent pivot to the ERC20 ecosystem? Sound off in the comments below. 

Images via Cipher Browser, Twitter

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