Coinbase, a leading U.S.-based cryptocurrency exchange, has integrated Apple Pay into its Onramp app services, effective from December 2. This integration allows users to log in and perform transactions via Apple Pay, simplifying the process of buying and selling cryptocurrency within the apps using Coinbase Onramp services.
Simplifying Crypto Transactions
This integration does not require any modifications by app developers, as confirmed by Coinbase in a recent blog post. By incorporating Apple Pay, Coinbase enhances the usability of its services, facilitating a smoother transaction experience for users familiar with Apple’s payment system.
Apple Pay’s introduction to Coinbase’s Onramp service adds to its growing presence in the crypto space, joining other platforms like Binance and MetaMask that already support the payment service. The crypto community has reacted positively, suggesting that this could lead to wider adoption of cryptocurrency due to the convenience and security Apple Pay offers.
Simultaneously, Coinbase has decided to retract its expansion plans into Turkey, despite the country’s significant market size in terms of cryptocurrency transactions. Although specific reasons for the withdrawal were not disclosed, a company spokesperson indicated that Coinbase continually evaluates its strategic positions across global markets.
- Zero-Fee USD Coin Transactions: Coinbase users can now perform USD Coin transactions without any fees through Apple Pay, promoting easier access to crypto.
- Broad Currency and Blockchain Support: The service is compatible with over 60 fiat currencies and provides access to more than 100 cryptocurrencies and 20 blockchains.
| Feature | Details |
|---|---|
| Integration Date | December 2 |
| Transaction Support | Enabled for Apple Pay |
| Fee Structure | No fees for USD Coin transactions |
| Supported Cryptocurrencies | Over 100 |
| Supported Blockchains | More than 20 |
| Supported Fiat Currencies | Over 60 |
The integration of Apple Pay with Coinbase’s Onramp services marks a significant development in making cryptocurrency more accessible to the general public. By leveraging familiar payment interfaces like Apple Pay, Coinbase is not only simplifying crypto transactions but also potentially increasing the overall adoption rate of cryptocurrencies. This strategic move could serve as a model for other platforms looking to bridge the gap between traditional finance and the emerging world of digital currencies.
Featured image credit: Shinya Suzuki via Flickr
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