Coinbase is introducing a new feature that allows purchasing cryptocurrency through Apple Pay in third-party applications. Yesterday, the cryptocurrency exchange announced its integration with Apple Pay, enabling app developers to embed cryptocurrency purchase functionality directly into their products. This was made possible by the Coinbase Onramp program, which facilitates the seamless conversion of traditional currencies, such as US dollars, into cryptocurrency.
Previously, this process was quite complicated:
- Users had to pay additional fees.
- Switch between multiple apps or websites.
The integration with Apple Pay significantly simplifies this process, making cryptocurrency transactions more accessible to regular users. This move is also aimed at expanding Coinbase’s audience by easing access to cryptocurrencies.
Interestingly, the integration of Coinbase with Apple Pay may indicate a shift in Apple’s approach to cryptocurrencies. In the past, the tech giant demonstrated caution towards this sector:
- In 2019, Apple launched its own credit card but prohibited its use for purchasing cryptocurrency.
- The company removed apps related to cryptocurrencies, blockchain, and NFTs from its App Store.
- Earlier this year, major exchanges like Binance and Kraken, along with several popular crypto platforms in India, were removed from the App Store.
Despite Apple’s cautious stance in the past, in 2021, the company’s CEO, Tim Cook, admitted to owning cryptocurrency but emphasized that he did not plan to involve Apple in the crypto industry. The integration of Apple Pay with Coinbase could mark a turning point in the company’s relationship with the digital asset market, opening a new era of interaction between technology and cryptocurrencies.