Coinbase Integrates Apple Pay for Crypto Purchases

Divya  |  Aug 6, 2021

Cryptocurrency exchange Coinbase is introducing Apple Pay to its platform for seamless and secure purchases. This means debit and credit cards linked to Apple’s payment service can be used to buy digital assets on Coinbase.

Coinbase Announces Apple Pay and Google Pay Integration

In a blog post published on Thursday, Coinbase announced that it will allow crypto purchases on an Apple Pay-supported iOS device or Safari web browser.

The leading exchange also mentioned its plans to include Google Pay later this fall.

Additionally, Coinbase said that users can now avail benefits of instant cashouts through its Real-Time Payments (RTP) system. RTP will enable customers in the US to instantly and securely withdraw up to $100,000 per transaction. This will be a considerable improvement on the widely used Automated Clearing House (ACH) transfers -- which can take up to 5 days to move funds through the traditional financial network.

Coinbase Acquires Data Crunching Firm Zabo for Undisclosed Sum

Dallas-based crypto data-crunching firm Zabo will be joining Coinbase, according to a Wednesday announcement. Zabo was recently acquired by the publicly listed crypto exchange for an undisclosed sum. 

“Zabo unlocked something truly magical: making it incredibly simple and easy to connect cryptocurrency accounts and finally unify users' complete financial picture. We are very excited to join Coinbase, which has done more than perhaps any other company in advancing the mission of bringing cryptocurrency mainstream,” Zabo’s founders Christopher Brown and Alex Treece wrote in the announcement.

The company is yet to clarify whether it will operate independently or merge its services with Coinbase after the acquisition. However, members of its core team will be shifting their work to the exchange. 

“We look forward to working as part of Coinbase to continue to bring cryptocurrency mainstream and increase economic freedom for billions of people,” Christopher and Alex stated.

As per data from Crunchbase, Zabo has raised $3.5 million since its establishment in 2018. Its most popular product Papercrypto -- launched in 2019 -- helped new and existing crypto users gain exposure through a trading simulation. Earlier this year, the data aggregator tied up with UK-based financial management service Money dashboard to show users their cryptocurrency accounts alongside their bank accounts.

With another crypto-focused firm under its ownership, Coinbase is forging ahead with its plans to bring digital assets into mainstream markets. Since the start of 2021, the leading exchange has acquired several crypto startups such as data analytics firm Skew, blockchain infrastructure platform Bison Trails, and trade execution provider Routefire.

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