What you need to know
- Coinbase now supports crypto purchases through Apple Pay.
- It means customers can buy crypto with debit cards linked to Apple Pay.
Coinbase has announced this week that its platform now supports purchases of crypto through Apple Pay.
The company stated in a press release:
Fast, familiar, and secure ways to move money in and out of Coinbase are key to bringing more people into the cryptoeconomy for the first time. Today 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.
Coinbase says that Apple Pay is both trusted and secure and that users with any Visa or Mastercard debit card linked to Apple Wallet will now automatically see Apple Pay appear as a payment method and purchasing option when they are buying crypto through either the Coinbase app or on a Safari web browser. The feature is also coming to Google Pay in the fall.
At the start of the year Coinbase added Apple Pay support for its Coinbase Card, allowing users to make purchases in-stores and online using cryptocurrency through Apple Pay. CEO Brian Armstrong recently stated that whilst the cryptoeconomy is in its early stages, he'd like to see Coinbase become the Apple of the cryptocurrency market:
Apple didn't attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on Apps, and a new trend coming out every three months. We'll work to give our users easy access to all of this from the main Coinbase product.
