On 5th August in a blog post, crypto exchange Coinbase announced that the users can now use Apple Pay and Google Pay as a mode of secure payment to purchase crypto asset on its platform.

Prakash Hariramani, Senior Director of Coinbase said on Thursday, “Today we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google pay, and instant cash outs up to $100,000 per transaction available 24/7.”

Crypto Exchange Coinbase is well known for its fast and secure ways of transaction. From now on the users can buy crypto with the world’s most trusted digital wallets. While iPhone users can purchase cryptocurrencies with any MasterCard or Visa linked to Apple Pay, Android users have to wait until later this fall for buying crypto via Google Pay.

Since a large number of mainstream bank’s debit cards count on the Visa and MasterCard worldwide, the company takes the footstep so that the option becomes available to most of their consumers. Though Coinbase users can already opt for Apple Pay option since June, the link up with several bank’s debit card is new.

The significant announcement between North America’s biggest crypto exchange and two digital giants, reflects a new alliance in the crypto market. Furthermore, Coinbase noted that users can make transactions through PayPal also.

“Coinbase is the first crypto exchange to offer instant cash outs via Real Time Payments (RTP), enabling customers in the U.S with the linked bank accounts to instantly and securely cash put up to $100,000 per transaction,” said the Company in the same post.

This move would be beneficial for Coinbase target retail investors. Back in April, digital asset exchange Gemini made a similar move incorporating Apply Pay and Google Pay cash transfer options on its platform.

Joyashree Dey

CBW - External Analyst

INDIA