Coinbase was announced an integration with Apple Pay on Monday, allowing app makers to build the ability to buy crypto with Apple Pay directly into their apps.
The integration is part of the Coinbase Onramp, which gives app makers a way for customers to convert their traditional currencies, such as USD, into cryptocurrencies. This process has historically been difficult, requiring users to pay additional fees and visit multiple websites or apps.
With the integration of Apple Pay, Coinbase continues to push its products toward the average consumer, making crypto purchases more accessible.
Apple appears to be embracing encryption with this integration — at least, more so than it used to — perhaps marking a turning point for the iPhone maker’s rocky relationship with the crypto industry.
The possible change of heart comes at an interesting political time. President-elect Trump has indicated that his incoming administration will be kinder to the crypto industry than past leaders, which he undoubtedly has pushed the price of bitcoin to nearly $100,000. Securities and Exchange Commission Chairman Gary Gensler recently announced he would leave when Trump takes office, marking the end of a years-long crackdown on cryptocurrencies.
Coinbase CEO Brian Armstrong previously criticized Apple for not playing nice with the crypto industry, claiming in 2022 that there could be antitrust issues for the iPhone maker. At the time, Armstrong said Apple had banned certain features from Coinbase’s app.
When Apple launched its credit card in 2019, the company said it would not allow customers to use the cards to buy cryptocurrencies. Apple has a history of launching crypto, blockchain and NFT apps from its App Store. Earlier this year, the Cupertino-based company pulled Binance, Kraken and many of the world’s largest crypto exchanges from its App Store in India.
Apple CEO Tim Cook said in an interview in 2021 that he was looks at Apple Pay’s ability to buy cryptoand even noted that he is a crypto owner himself. However, Cook said at the time that he wants to keep his company at arm’s length from the crypto industry.
