The cryptocurrency exchange platform, Coinbase has enabled a user-friendly interface for making payments through cryptocurrency.
On Thursday, Coinbase announced the big news! The users can now avail the application to use Apple Pay to purchase cryptocurrency and other digital assets. The application is also working to partner up with Google Pay to make the fund transfer procedure extremely easy to use.
Senior director of Coinbase’s Payments & Financial Hub, Prakash Hariramani posted on the official Coinbase blog site explaining their actions and intentions with Apple Pay with clarity.
Coinbase’s blog post mentioned that “Today, we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cash outs up to $100,000 per transaction available 24/7.”
The post also mentioned, “If you already have a Visa or Mastercard debit card linked in your Apple Wallet, Apple Pay will automatically appear as a payment method when you’re buying crypto with Coinbase on an Apple Pay-supported iOS device or Safari web browser.”
Coinbase looks forward to “later this fall” to deliver its partnership with Google Pay to its users.
The blog post on Coinbase continues to mention, “instant cashouts via Real-time Payments (RTP), enabling customers in the US with linked bank accounts to instantly and securely cash out up to $100,000 per transaction.”
Another US-based cryptocurrency exchange platform named Gemini launched a similar program earlier this year, in April. It was working to collaborate with Google Pay and Apple Pay to enable fund transfer services on its platform.
The American company, Coinbase Global Inc. was found in 2012. It became open to the public earlier in 2021 under the ticker name [NASDAQ: COIN]. Since then, Coinbase has developed its company, constantly updated its services and policies. It wants to remain in compliance with regulatory agencies.
However, the US has recently launched a national regulatory bill, which is called the Infrastructure Bill. The bill is not directly focused on cryptocurrency, but a part of it has made crypto enthusiasts skeptical of its provisions. It led to expanding of crypto tax reporting, to which Coinbase’s CEO, Brian Armstrong expressed disapproval. He called it “nonsensical”.
What do you think about Coinbase…Apple Pay partnership? amidst the phase where regulators are focusing on cryptocurrency crackdown.