Coinbase, the leading cryptocurrency exchange platform, has announced a new integration with Apple Pay, making cryptocurrency purchases more accessible to millions of users across the United States.
The partnership enables Apple Pay's 60 million U.S. users to easily convert traditional currency (fiat) to cryptocurrency through Coinbase Onramp, a tool designed to simplify crypto purchases within existing applications.
This collaboration marks a major step forward in making cryptocurrency more accessible to mainstream users. The integration allows for near-instant fiat-to-crypto conversions, dramatically reducing the time typically required for such transactions.
Apps that already use Coinbase Onramp will automatically display Apple Pay as a payment option for eligible purchases. The streamlined process eliminates the need for users to navigate multiple applications or undergo lengthy verification procedures.
"Coinbase Onramp take the hassle out of fiat-to-crypto conversions with lightweight KYC for eligible purchases, free USD on and offramping, and access to the most popular payment methods," stated Coinbase in their announcement.
This development follows several recent expansions by Coinbase, including the introduction of USDC stablecoin rewards and the acquisition of Utopia Labs to enhance their wallet capabilities. The company also recently established a partnership with Visa to facilitate instant fund deposits through eligible Visa debit cards.
The Apple Pay integration represents another step in Coinbase's mission to make cryptocurrency transactions more user-friendly and accessible to the general public, while maintaining necessary security measures and compliance standards.