Coinbase Integrates Apple Pay for Crypto Purchases
Release: 2024/12/03 11:26 Reading: 759
Coinbase Integrates Apple Pay for Cryptocurrency Purchases
Coinbase announces the integration of Apple Pay with its Coinbase Onramp service. This allows crypto app users to make fiat-to-crypto purchases for assets such as Bitcoin, Dogecoin, and many others.
With Apple Pay, users can seamlessly utilize Apple's payment service for fiat-to-crypto transactions. Offramping or onramping is also free via USDC, a stablecoin pegged to $1.
"Users can now fund their wallets in seconds instead of minutes, using one of the most widely used payment methods in the US," said Nemil Dalal, Head of Coinbase Developer Platform.
Popular applications like Moonshot, which allows meme coin trading, leverage this feature. Users can now add up to $500 per week via Apple Pay through Coinbase Onramp without requiring know-your-customer (KYC) verification.
According to Oberlo data cited by Coinbase, over 60 million Apple Pay users in the United States can now access this feature. This number is projected to reach 67 million by 2026.
Coinbase has previously enabled Coinbase Card users to link it with their Apple Pay accounts for purchases and cashouts.
As a leading American cryptocurrency exchange, Coinbase's integration of Apple Pay further simplifies the onboarding process for users. In November, the company acquired Utopia Labs to enhance on-chain payments through its Ethereum layer-2 network, Base.
Coinbase Onramp, with built-in KYC and compliance, supports over 100 crypto tokens and 60 fiat currencies.
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