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ERC-4337 embedded wallet adoption map · Privy/Coinbase/Alchemy/Safe

Confidence: Certain Updated 2026-05-26 Review by 2026-08-08 Sources 9 Machine-translated Original (JA)
#systems#wallet#aa#erc-4337#embedded-wallet#privy
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Wiki route

This entry sits under systems index. Read it against ERC-4337 Overview · Application-Layer Implementation of Account Abstraction for peer / contrast context and fintech index for the broader system / regulatory boundary.

Key facts

  • Privy: full-stack 4337 + Pimlico partnership · 6000+ apps · acquired by Stripe
  • Coinbase CDP Wallets: Base-native + smart wallet · millions of users
  • Alchemy Account Kit: Modular Account standard · DeFi + GameFi mainstream
  • ZeroDev / Pimlico: B2B layer for Bundler + Paymaster infrastructure
  • Safe{Core}: 4337 support + Modular Safe · mainstream institutional multi-sig
  • JPM Kinexys does not participate — Canton/DAML route · EVM AA not adopted

Mechanism / How it works

Layered structure of embedded wallet players:

Player4337 implementationCustomer scaleBusiness model
PrivyFull-stack 4337 + Pimlico partnership6000+ appsSaaS subscription + usage-based billing
Coinbase CDP WalletsBase-native + smart walletMillions of usersEmbedded into the Coinbase commercial ecosystem
Alchemy Account KitModular Account standardDeFi + GameFi mainstreamInfrastructure usage-based billing
ZeroDev / PimlicoBundler + Paymaster infrastructureB2B infrastructureInfrastructure fees
Safe{Core}4337 support + Modular SafeInstitutional multi-sigOpen source + integration support

Flow of the Stripe via Privy strategy: In 2024 年, Stripe acquired Privy and integrated 4337 wallet functionality into Stripe Connect — merchants can directly issue self-custodial USDC wallets to their own end users even when those users do not understand blockchain. This becomes an important wedge for Stripe to enter the stablecoin payment domain (in contrast to Embedded-wallet network effects · the moat is in the integrator, not the wallet itself).

Coinbase’s contradiction: Coinbase operates a custody business (its core CEX business) while also promoting self-custodial (CDP / Base / Smart Wallet) — 4337 is exactly a tool for “cutting off the right hand with the left.” The commercial logic is that even if some users flow into self-custody, Coinbase can earn revenue from Base gas + traffic fees (and those users do not flow to a competing CEX), preserving profit.

Origin & evolution

In 2023-03 , after the 4337 mainnet went live, Privy / Coinbase CDP / Alchemy each released integrated products within 6-12 months. From 2024 to 2025 年, embedded wallets entered the “Web2 fintech connection” phase — Stripe / Robinhood / PayPal / Revolut are all exploring it to varying degrees. Stripe’s acquisition of Privy in 2024 年 was a symbolic event · it showed that a Web2 payments major recognized 4337 as the foundation for next-generation wallet UX.

With 2026 年’s v0.7 upgrade, embedded wallet implementation speed is accelerating further — the customer experience is moving even closer to the Web2 level. Combined with ERC-7715 agent payment stack, wallets need to serve both humans and AI agents, and 4337 is becoming a general-purpose infrastructure layer.

Sources