Coinbase has integrated Apple Pay into its Onramp service, allowing quick fiat-to-crypto purchases, including Bitcoin and Dogecoin.
Coinbase is integrating Apple Pay with its Coinbase Onramp service to facilitate fiat-to-crypto transactions.
Apple Pay Now Available for Crypto Purchase
Apple Pay will be available for the purchase of Bitcoin, Dogecoin, and other cryptocurrencies on Coinbase’s platform beginning on December 2.
Furthermore, USDC provides consumers with complimentary onramping and offramping services.
“Now in seconds instead of minutes, users can fund their wallets using one of the most widely used payment methods in the US,” Nemil Dalal, head of Coinbase Developer Platform, told Decrypt.
As part of its promotion, Coinbase shared a video demonstrating the acquisition of $10 worth of USDC “in seconds” using a Chase debit card via Apple Pay on Moonshot.
Moonshot enables its users to accrue up to $500 per week through Apple Pay through Coinbase Onramp, without the necessity of conventional Know Your Customer (KYC) requirements.
Coinbase underscored that the United States has more than 60 million Apple Pay users. By 2026, it is anticipated that the figure will increase to 67 million.
In 2021, Coinbase provided users with the ability to link their Coinbase Card to their Apple Pay accounts, enabling them to make purchases and cash out using debit cards that are connected to Apple Pay.
The new Onramp integration expands upon this foundation, facilitating the process for users to engage in on-chain economies.
Coinbase Onramp also provides KYC and compliance features, which are compatible with over 100 crypto instruments and over 60 fiat currencies.
Turkey Exit
The exchange’s withdrawal of its application to access the Turkish market is also concurrent with the action. Its decision is a response to the Capital Markets Board of Türkiye (SPK)’s recent regulations, which are designed to transform the country’s crypto market.
Coinbase submitted its pre-application in August, as indicated by an SPK update on November 29th. However, it has since requested liquidation. It has been reported that 14 companies have filed for liquidation, while 77 firms are still in the process of applying.
Binance, KuCoin, and OKX are currently in the process of obtaining licenses to operate in the country. However, both Binance and KuCoin have recently removed Turkish language alternatives from their platforms.
