Coinbase Wallet introduces enhanced features to enable seamless, cost-effective and fast international money transfers, potentially contributing to increased crypto adoption.
According to an announcement from Coinbase on Tuesday, users can now easily send money through any platform where they can share a link, including popular messaging apps such as WhatsApp, Apple’s iMessage and Telegram, as well as various social media platforms and email.
Send money anywhere you can send a link.
Easily. Instantly. For free.
— Coinbase Wallet 🛡️📞 (@CoinbaseWallet) December 5, 2023
The latest updates aim to make sending money around the world easier by removing the complexities associated with traditional banking, including account numbers and long wait times.
Instead, Coinbase Wallet users can generate a link within Coinbase Wallet, share it via messaging or social apps, and enable instant settlements with no transaction fees.
Particularly useful for cross-border payments
This development is particularly beneficial for cross-border transactions as it saves users the hassle of wire transfers and excessive bank fees.
Available in 20 languages and over 170 countries, Coinbase Wallet’s global accessibility makes it possible to access funds worldwide.
New ‘Easy Mode’
According to Coinbase’s update, the introduction of an optional “easy mode” in Coinbase Wallet is intended to further improve the user experience and focus on essential functions such as purchasing, sending, receiving and storing digital assets.
The optional feature aims to simplify the platform and cater to both beginners and experienced users, Coinbase said.
Coinbase Wallet expands global reach
Additionally, Coinbase Wallet expands its global reach by offering local fiat onramps in over 130 countries, supporting leading payment methods in various regions.
The initiative was described by Coinbase as important for people in hyperinflationary countries with limited access to stablecoins, providing them with a gateway to the global financial system.
Coinbase Wallet allows users to receive funds from any crypto exchange, purchase the stablecoin USDC with no fees via Coinbase Pay, and send USDC worldwide across multiple blockchain networks.