Key Takeaways:
- Apple Pay: Seamless fiat-to-crypto purchases.
- No Fees: Free USDC on/off-ramping.
- Wide Reach: 60M+ Apple Pay users.
- Easy Setup: Auto-integrates with Coinbase Onramp apps.
Coinbase x Apple Pay
On December 2, 2024, COIN (Coinbase) announced its partnership with AAPL (Apple) to integrate Apple Pay into its Coinbase Onramp tool, enabling fiat-to-crypto conversions. With this integration, apps using Coinbase Onramp can offer users a seamless payment experience, enabling transactions to be completed in seconds. Apple Pay now appears as a default payment option for eligible purchases, without requiring additional setup for developers.
The integration removes common bottlenecks in crypto onboarding, including heavy KYC requirements and reliance on multiple apps. Instead, Coinbase Onramp uses lightweight KYC and supports free USDC on/off-ramping. Apps like Moonshot, which already leverage Onramp, exemplify how easy it is for users to get on-chain with minimal friction.
Expanding Accessibility with Apple Pay
This collaboration taps into Apple Pay’s extensive network of over 60.2 million users in the U.S., significantly broadening accessibility. By simplifying crypto purchases, Coinbase aims to encourage mainstream adoption and improve user experience for both crypto enthusiasts and newcomers. Coinbase’s ongoing innovations, including a recent partnership with Visa, reinforce its mission to streamline crypto accessibility and accelerate the shift toward decentralized finance.
Market Update Into September 7th: Inflation Data Incoming