Apple has teamed up with Coinbase to enable crypto purchases through Apple Pay in third-party apps.
The integration is part of Coinbase Onramp—a service designed to streamline the conversion of traditional currencies into digital assets like Bitcoin and Ethereum.
The move signifies a turning point for the cryptocurrency ecosystem, as two major tech and financial players join forces to simplify the notoriously complex process of acquiring digital currencies.
By leveraging Apple Pay’s widespread adoption and Coinbase’s crypto expertise, this partnership could redefine how consumers and developers interact with cryptocurrencies.
The Coinbase partnership represents a notable shift in strategy, allowing Apple to facilitate crypto transactions without directly handling or endorsing cryptocurrencies. By enabling purchases via Apple Pay, Apple is embracing the benefits of blockchain technology while sidestepping its risks.
Coinbase Onramp
Coinbase Onramp aims to solve one of the biggest challenges in the cryptocurrency space: accessibility. For years, buying cryptocurrencies required navigating a maze of platforms, incurring high fees, and dealing with security concerns.
Coinbase Onramp simplifies this process by providing developers with tools to embed crypto-purchasing capabilities directly into their apps.
With the addition of Apple Pay, this solution becomes even more seamless. Users can now convert their traditional currencies into digital assets with a few taps, leveraging Apple Pay’s secure and familiar interface.
“This partnership is a game-changer,” said Coinbase CEO Brian Armstrong.
“It eliminates many of the barriers that have kept average consumers from exploring cryptocurrencies. By integrating with Apple Pay, we’re bringing crypto to the fingertips of millions of users.”
For app developers, the integration offers a lucrative opportunity to enhance their platforms. Finance, e-commerce, and gaming apps can now attract new users by incorporating crypto functionality, driving engagement and increasing user retention.
Coinbase Onramp makes it easy to build fiat onramps into your app so you can focus on what matters most — building your app. For eligible purchases, we provide lightweight KYC to make the process of getting onchain even simpler. To turbocharge this feature for your users, we’ve now integrated Apple Pay as a payment method.
Here’s what that means for developers and their users:
- A faster end-to-end experience, taking seconds to convert from fiat-to-crypto
- Access to the most popular payment methods
- Easier onramping for the 60M+ US users of Apple Pay
All of this on top of free USDC on and offramping for your users!
If you’re an existing app using Coinbase Onramp, there’s nothing you need to do. Your users will automatically see Apple Pay appear as an option when making an eligible purchase.
Apple’s Changing Crypto Strategy
The partnership with Coinbase raises questions about Apple’s long-term crypto strategy. Will the company eventually allow direct cryptocurrency transactions within Apple Pay? Could this integration pave the way for blockchain technology to play a more significant role in Apple’s ecosystem?
While the answers remain unclear, Apple’s cautious but deliberate approach suggests a growing interest in crypto. By facilitating crypto purchases without directly handling them, Apple is testing the waters in a way that minimizes risk while capitalizing on growing consumer demand.
