Coinbase announced Monday that Apple Pay is now integrated with its Coinbase Onramp service, which allows crypto applications to enable fiat-to-crypto purchases for assets like Bitcoin, Dogecoin, and many more.
With Apple Pay integrated, users of crypto applications that utilize Coinbase Onramp can use Apple’s payments service for all fiat-to-crypto purchases, with free onramping or offramping via USDC, a popular stablecoin that is pegged to the value of $1.
“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.
Popular applications like Moonshot, a mobile app that allows users to trade meme coins, make use of the feature, allowing its users to add up to $500 a week via Apple Pay through Coinbase Onramp—with no know your customer (KYC) requirements.
Data from Oberlo, cited by Coinbase in its feature announcement, forecasts that there are more than 60 million users of Apple Pay in the United States who can now take advantage of the feature. That figure is expected to jump to 67 million users by 2026.
Coinbase has a history with Apple Pay, allowing users of the Coinbase Card to link it to their Apple Pay accounts as early as 2021 while enabling purchases and cashouts via debit cards linked through Apple Pay later that year.
Coinbase is a prominent American cryptocurrency exchange, and the announcement is the latest in its efforts to simplify the onboarding process for users and make it easier for them to join on-chain economies. In November, the company announced it was acquiring Utopia Labs to accelerate on-chain payments via its Ethereum layer-2 network, Base.
Coinbase Onramp, which comes with built-in KYC and compliance, supports more than 100 crypto tokens and over 60 fiat currencies.
Edited by Andrew Hayward