United States-based cryptocurrency exchange Coinbase has announced the seamless integration of Apple Pay into its Onramp app services. Starting from 2 December, users accessing apps built with Coinbase Onramp will have the option to log in and carry out transactions via Apple Pay. This integration requires no additional steps from app developers and is already live for all users.
A Boost for Crypto Adoption
According to a Coinbase blog post, this development aims to make cryptocurrency transactions more accessible to a broader audience. The integration introduces a familiar payment method, Apple Pay, into the cryptocurrency space, enhancing ease of use and security for users less acquainted with blockchain and Web3 technologies.
The integration marks a significant milestone for Coinbase, bringing Apple Pay into the fold of one of the most popular exchange service platforms in the US. While Apple Pay is already supported by other major players such as Binance, BitPay, and MetaMask, this development has been enthusiastically received by the crypto community on social media. One user commented, “This could be a tipping point! The ease and convenience of Apple Pay integration will undoubtedly attract a wider range of users to the crypto space.”
Impact on Developers and Users
One of the key highlights of this integration is its simplicity. App developers using Coinbase Onramp services are not required to make any changes to enable Apple Pay functionality. For end users, the process of conducting cryptocurrency transactions is made more convenient by leveraging Apple’s extensive iOS user base.
The conversation on X.com in response to the news has been upbeat. Source: Asser Fawzi
Coinbase Onramp’s ease of use is expected to encourage cryptocurrency adoption further by lowering barriers for newcomers. Users can also benefit from free USD Coin (USDC) transactions for both crypto on- and off-ramping. Additionally, the platform supports more than 60 fiat currencies, over 100 cryptocurrencies, and 20 blockchains, ensuring compliance with regulatory standards.
Coinbase’s Global Market Reassessment
While Coinbase expands its Onramp offerings, the company is simultaneously reassessing its global market presence. Recently, Coinbase announced it would withdraw plans to expand operations in Turkey, the fourth-largest cryptocurrency market by transaction volume.
In response to queries regarding this decision, a Coinbase spokesperson declined to provide specific reasons, stating only that the company continues to evaluate its global strategy.
Conclusion
The integration of Apple Pay into Coinbase’s Onramp services represents a significant step towards simplifying cryptocurrency transactions and increasing adoption. With its large user base and secure reputation, Apple Pay’s inclusion could be pivotal in introducing more people to the crypto space. Meanwhile, Coinbase’s strategic reassessment of global operations underscores the company’s focus on maintaining a balanced and sustainable presence in the evolving cryptocurrency market.
