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Coinbase Announce Integration with Apple Pay on Monday, allowing app makers to build the ability to buy cryptocurrencies using Apple Pay directly into their apps.
The integration is part of Coinbase Onramp, which gives app makers a way for customers to convert their traditional currencies, such as the US dollar, into cryptocurrencies. This process has historically been difficult, requiring users to pay additional fees and visit multiple websites or apps.
With the Apple Pay integration, Coinbase continues to push its product toward the everyday consumer by making cryptocurrency purchases more convenient.
Apple appears to be embracing cryptocurrencies with this integration — at least more than it was before — which could mark a shift in the thorny relationship between the iPhone maker and the cryptocurrency industry.
The potential change in position comes at an interesting political moment. President-elect Trump has indicated that his incoming administration will be kinder to the cryptocurrency industry than previous leaders, which there is no doubt. It pushed the price of Bitcoin to nearly $100,000. Securities and Exchange Commission Chairman Gary Gensler recently made the announcement He will step down When Trump takes office, it will mark the end of his years-long campaign against cryptocurrencies.
Coinbase CEO Brian Armstrong has previously criticized Apple for not handling the cryptocurrency industry well, claiming in 2022 that there could be antitrust issues for the iPhone. At the time, Armstrong said Apple blocked certain features of the Coinbase app.
When Apple issued its credit card in 2019, the company said it would not allow customers to use the cards to purchase cryptocurrencies. Apple has a track record of excluding cryptocurrency, blockchain, and NFT apps from its App Store. Earlier this year, the Cupertino-based company pulled Binance, Kraken and several of the world’s largest cryptocurrency exchanges from its app store in India.
Apple CEO Tim Cook said in a 2021 interview that it was Consider enabling Apple Pay to purchase cryptocurrenciesHe even noted that he owns cryptocurrencies himself. However, Cook said at the time that he wanted to keep his company out of the cryptocurrency industry.
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