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Coinbase Payments Joins Open Intents Framework to Advance Cross-Chain Transfers

Coinbase Payments contributes to the Ethereum Foundation’s Open Intents Framework, aiming to standardize secure, permissionless cross-chain asset movement across Ethereum and Layer 2 networks.

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Summary

Coinbase Payments has joined the Ethereum Foundation’s Open Intents Framework (OIF) as a core contributor, collaborating with over 30 participants to develop open standards for seamless cross-chain asset transfers within the Ethereum ecosystem. The OIF focuses on creating modular tools like solvers and smart contracts, allowing developers to build intent-based applications, enabling actions like cross-chain token swaps. Supported by contributors like Arbitrum, Optimism, zkSync, and Scroll, the framework leverages standards like ERC-7683 to unify Ethereum’s Layer 2 networks for secure and efficient cross-chain transactions.

Terms & Concepts
  • Open Intents Framework (OIF): An Ethereum Foundation initiative providing open standards and modular tools for building intent-based, cross-chain applications across Ethereum and Layer 2s.
  • Layer 2 Networks: Blockchain protocols built atop Ethereum to improve scalability and reduce transaction costs while maintaining security through the mainnet.
  • ERC-7683: An Ethereum standard defining how intents are created, executed, and settled, enabling seamless cross-chain and cross-layer operations.