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Coinbase is integrating Apple Pay with its Coinbase Onramp service to enable fiat-to-crypto purchases.
Starting 2 December, the likes of Bitcoin, Dogecoin and more can be purchased through Apple Pay on Coinbase's platform.
Additionally, users can enjoy free onramping and offramping services when using USDC.
“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.
A video showing the purchase of $10 worth of USDC "in seconds" using a Chase debit card via Apple Pay on Moonshot was shared by Coinbase as part of its promotion.
Moonshot allows its users to add up to $500 a week via Apple Pay through Coinbase Onramp without the need for traditional Know Your Customer (KYC) requirements.
Coinbase highlighted that there are over 60 million Apple Pay users in the US. The figure is projected to rise to 67 million by 2026.
In 2021, Coinbase enabled users to link the Coinbase Card to Apple Pay accounts and allowed purchasing and cashouts through debit cards connected via Apple Pay. The new Onramp integration builds on this foundation, further simplifying the process for users to participate in on-chain economies.
Coinbase Onramp also offers KYC and compliance features, supporting more than 100 crypto tokens and over 60 fiat currencies.
Blockhead
Turkey Exit
The move also coincides with the exchange withdrawing its application to enter the Turkish market. Its decision comes in response to new regulations introduced by the Capital Markets Board of Türkiye (SPK) aimed at reshaping the country’s crypto market.
According to an SPK update on 29 November, Coinbase filed its pre-application in August but has since requested liquidation. 14 companies have reportedly filed for liquidation, while 77 firms are still navigating the application process.
US-based Coinbase, one of world's largest cryptocurrency exchanges, drops plans to enter Turkish market
— Türkiye Today (@turkiyetodaycom) December 1, 2024
Binance, KuCoin, and OKX are still pursuing licenses to operate in the country but both Binance and KuCoin have removed Turkish language options from their platforms.
