Coinbase integrates Apple Pay for crypto payments
2 min readUS crypto exchange Coinbase now allows users to purchase cryptocurrencies on its app via debit cards linked to Apple Pay accounts, it said in a blog post last week.
Apple Pay is one of the top mobile payment players in the world, with 43.9 million users in 2021 alone as per reports. The company has historically kept shunning crypto apps and is very selective in what it allows to be listed, but that sentiment is seemingly changing.
Coinbase now supports Apple Pay when buying cryptocurrency, meaning that users can buy with debit cards that are linked to Apple's system. https://t.co/YM1uEriOWC pic.twitter.com/A4PhKUWcaR
— AppleInsider (@appleinsider) August 6, 2021
Purchase via Apple Pay
All Coinbase users can now use Apple Pay to purchase BTC, ETH, Litecoin, and the several other cryptocurrencies listed on its platform: “Fast, familiar, and secure ways to move money in and out of Coinbase are key to bringing more people into the crypto-economy for the first time,” said Prakash Hariramani, senior director—payments and financial hub, Coinbase.
He added, “We’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7.”
A Google Pay integration is expected soon, opening up Coinbase’s services to a potential 150 million around the world (based on if Coinbase allows users from all countries in the future).
Meanwhile, Coinbase also stated that it is now the first crypto exchange to offer instant cashouts via Real-Time Payments (RTP)—a move that enables customers in the US with linked bank accounts to instantly and securely cash out up to $100,000 per transaction.
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