To facilitate cryptocurrency purchases for U.K. based users, Coinbase has integrated Apple Pay functionality, enabling users to buy Bitcoin and other digital assets directly through their iPhones using Apple Pay.
According to Coinbase, enabling Apple Pay provides users with a “more secure and private” method of purchasing cryptocurrencies. The exchange emphasized that when transactions are made using Apple Pay, card numbers are not stored on the device or Apple servers.
Instead, a unique device account number is assigned, encrypted, and stored in a chip designed for securing payment information.
This integration arrives at a time when the cryptocurrency market is experiencing a slowdown in trading volume and retail interest.
Coinbase recently reported decreasing crypto volumes as the market seeks new narratives to drive prices higher. While the upcoming Bitcoin halving event could potentially spark price increases, the exchange acknowledged the challenge of navigating a historically weak period for risky assets like crypto.
Daniel Seifert, the UK Country Director at Coinbase, stated that the new integration helps make accessibility to digital assets easier in the country.
“We know users already love using Apple Pay in their daily lives, so it only made sense to bring this convenient way to pay to Coinbase as well.”
