Image Credit: Coinbase
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Coinbase has added Apple Pay support to its Onramp payments feature for third-party apps, making it easier for iPhone owners to buy cryptocurrency from their devices.
Coinbase Onramp is a tool for app developers that helps them provide users with a quick way to buy cryptocurrency. It now supports Apple Pay as a payment method for Coinbase Onramp when used to make fiat-to-crypto purchases.
For developers, Coinbase Onramp is intended as a way to simplify the process of converting users from fiat currencies like dollars to cryptocurrency. This is typically a lengthy process that can require users to switch between multiple apps and undergo know-your-customer (KYC) verification.
As Coinbase explains, this friction is minimized thanks to the Apple Pay integration, as Coinbase Onramp does most of the work for developers. For end users, this results in a low-friction purchase process that Coinbase claims can take as little as 30 seconds.
This change will likely benefit developers, as it opens up a simplified purchase process to the more than 60 million Apple Pay users in the US. Plus, onboarding users using US dollars is also free.
Developers who have an app that already uses Coinbase Onramp will not need to make any changes, as it will automatically begin showing Apple Pay as an option when a user tries to make a purchase.
This isn’t the first time Coinbase has partnered with Apple Pay. In July 2021, the company added Apple Pay support to its own app so users could buy cryptocurrency with debit cards.
Monday’s announcement effectively rolls out the same support to third-party apps that use Coinbase Onramp for transactions.
Cryptocurrency has had a rough year on the iPhone, with Apple removing nine apps that use it from the App Store in India after a regulatory crackdown. Apple was also sued over instant transfer fees and an alleged lack of trust in cryptocurrency, but a judge dismissed it due to several flaws.
In September, an attempt to revive “Flappy Bird” was seriously tainted by the introduction of cryptocurrency elements. By November, it was revealed that Apple and A24 were working on a film adaptation of the FTX cryptocurrency scandal, with Lena Dunham set to write the script.
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