Coinbase Integrating Apple Pay, Google Pay for Crypto Purchases
Coinbase has announced that it will allow users to buy crypto via Apple Pay and Google Pay through linked debit cards.
San Francisco-based exchange Coinbase has announced that it will integrate Apple Pay and Google Pay to allow easier crypto purchases, according to a blog post published on Aug 6. Users will now be able to buy assets on Coinbase using debit cards linked to the two payment services. Currently, only Apple Pay has been integrated, but Google Pay integration should arrive later this fall.
The exchange also announced that it has enabled instantaneous cashouts for up to $100,000 using Real-Time Payments (RTP). This allows customers in the United States with linked bank accounts to instantly and securely cash out up to $100,000 per transaction. Previously, it would take days for the withdrawal to complete.
In early June 2021, Coinbase announced that the Coinbase card had been integrated with Google Pay and Apple Pay. The company has been making a strong effort to make it as easy as possible to make crypto purchases. It’s also planning to launch its own app store, which would feature decentralized apps (dApps) from outside developers.
Coinbase’s support of Apple Pay and Google Pay will boost its presence in other countries as well. As the announcement notes, the latter is present in over 40 countries with over 140 million users. Currently, Coinbase accepts debit and credit card purchases in over 20 countries.
Coinbase on the move and going global
Coinbase’s public listing was a landmark moment for the market, and it has focused heavily on making its platform stronger since the occasion. The exchange had a solid debut on the stock market and has seen strong business growth, including its support staff hires growing by 500%.
Coinbase also recently acquired Zabo, a tech firm that helps integrate cryptocurrency solutions into the traditional financial world. Zabo describes itself as “the world’s most powerful tool for connecting to any crypto exchange, wallet, protocol or account.” The exchange is bolstering its platform and services with these acquisitions, as it plans to cement itself in the market as a leader in the exchange space.
It’s also planning to expand to several more countries, which it would need to do if it is to compete with the likes of Binance. The latter has a strong global presence and is one of the world’s most popular exchanges, but its growth has been marred by several legal cases and regulatory uncertainty.
In the U.S., Coinbase working on a new office in New York City, as a part of its strategy to have multiple smaller offices as opposed to one central headquarters.
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