One of the biggest integrations in cryptocurrency is now available thanks to Coinbase, as its Onramp developer tool successfully brings Apple Pay as the mode of payment for all purchases. It is the latest service from Coinbase that is now available for all iOS users to enjoy, and the company said that buying cryptocurrency using their fiat money is now as easy as an in-app purchase.
The goal is to simplify the ownership of crypto assets said Coinbase, particularly as previous payment methods require significant processes to complete a certain transaction, but not with Apple Pay.
Coinbase Integrates Apple Pay to Onramp For Easier Purchases
Coinbase announced that there is now an easier way to buy crypto for iOS users thanks to the latest integration of Apple Pay to its Onramp developer tool, and platforms that are using this may take advantage of this new payment method. Using Apple Pay, users may now easily complete a transaction in buying cryptocurrency in only a click, and then its security authentication method via Face ID or Touch ID.
According to Coinbase, users no longer need to undergo lengthy and complicated ways to purchase cryptocurrency, particularly with the KYC (know-your-customer) process and multiple apps to help with the verification.
Through its Coinbase Onramp, users will get the chance to purchase crypto without the previous hassle that was present that only uses 'lightweight' KYC, and also offers free USDC exchanges.
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Buy Bitcoin, Crypto From Onramp-Enabled Stores via Apple Pay
Moreover, Coinbase regarded that partner apps may get to fully take advantage of Onramp's Apple Pay integration, using Moonshot as an example, touting its instantaneous cryptocurrency purchase. Thanks to Coinbase's Onramp, users can now buy Bitcoin and their other preferred digital assets in a snap, following the previous plans by Cupertino to leverage Apple Pay for cryptocurrency.
That being said, there is still no news regarding Apple's massive plans regarding accepting cryptocurrency payments for Apple Pay's service, but this integration with Coinbase is already a significant step for a company that previously restricted blockchain transactions.
Apple and its Cryptocurrency Shift
Over the past years, Apple has been known for staying away from cryptocurrency despite Tim Cook previously confirming that he owns blockchain assets that he invested in using his own money. That being said, Apple, as a company, still had no plans to support the decentralized finance (DeFi) industry with the significant restrictions placed against crypto for many years.
However, while Apple allowed crypto apps on the platform, they are imposing a heavy 70-30 split from customer purchases, with Apple getting a huge chunk of commission from every transaction. This shift saw Apple offering lax restrictions to cryptocurrency exchanges present on iOS, and this also included their support for NFT minting, listing, and trade.
It is known that Apple's App Store policies have since been scrutinized regarding its antitrust violations, and this also concerned its restrictions against the blockchain industry which saw inquiries over the past. However, Cook and Apple had a change of heart which led to now having Apple Pay serve as a payment option for buying crypto via Coinbase's Onramp, offering an easier way of doing so.
