Coinbase has announced the integration of Apple Pay into its Onramp platform aiming to simplify the process of converting fiat currency into cryptocurrency.
Expanding the Onramp Platform
Onramp, formerly known as Coinbase Pay, is a developer toolkit that allows the integration of crypto purchasing methods into third-party apps like wallets and DeFi platforms. Currently, Onramp is supported by wallets such as MetaMask, Rainbow, Phantom, and Coinbase Wallet.
Benefits of Apple Pay Integration
The integration of Apple Pay aims to streamline the process of converting fiat currency into cryptocurrency. Users can complete transactions in seconds using Apple Pay’s built-in security features. This update reduces barriers to entry for crypto markets by providing a familiar and secure payment mechanism that is already linked to users’ bank accounts.
Impact on the Crypto Market
With the integration of Apple Pay, users can purchase the USDC stablecoin fee-free, significantly incentivizing the adoption. About 60 million Apple Pay users in the U.S. can quickly and securely convert fiat to crypto, strengthening the connection between traditional financial systems and blockchain technology.
The integration of Apple Pay into the Onramp system is set to make crypto purchases more accessible and secure for a larger audience, fostering growth in the crypto market.
