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You can now buy cryptocurrencies on Coinbase using Apple Pay (AAPL+0.54%).
The largest crypto exchange in the U.S. has added Apple Pay support to its Onramp platform (formerly known as Coinbase Pay), allowing users of third-party apps to fund their crypto purchases directly through Apple’s payment service. This collaboration will make buying crypto faster and easier, as Apple Pay is a widely used payment method among consumers.
The process of buying crypto with Apple Pay on Coinbase is straightforward. For existing apps that use Coinbase Onramp, no action is required — users will automatically see Apple Pay as a payment option when making eligible purchases. As part of the integration, users who purchase the USDC stablecoin with Apple Pay through Coinbase Onramp will have zero transaction fees.
Shares of Coinbase (COIN+3.50%) were up 2.7% Monday afternoon, trading at $304 per share.
The integration marks a significant step forward, highlighting how two industry leaders are bridging the gap between crypto and traditional financial institutions. Purchasing crypto with fiat currency, particularly for first-time buyers, can often be a cumbersome process, involving multiple exchanges and lengthy KYC (know-your-customer) checks. By enabling payments through Apple Pay, the process becomes faster and more streamlined.
Apple Pay is used by approximately 640 million active users globally, and in the U.S., over 90% of retailers accept it, making it a convenient and widely accessible payment method.