Coinbase 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 Coinbase Onramp, which gives app makers a way for customers to turn their traditional currencies, such as USD, into cryptocurrencies. That process has historically been difficult, requiring users to pay added fees and visit multiple websites or apps.
With the integration of Apple Pay, Coinbase is continuing to push its products toward the average consumer by making crypto purchases more accessible.
Apple seems to be embracing crypto with this integration — at least, more than it used to — perhaps marking a turn for the iPhone maker’s thorny relationship with the crypto industry.
The potential change of heart comes at an interesting political moment. President-elect Trump has signaled his incoming administration would be kinder to the crypto industry than previous leaders, which has undoubtedly pushed the price of bitcoin to nearly $100,000. Securities and Exchange Commission chair Gary Gensler recently announced he would step down when Trump takes office, marking an end to his years-long crackdown on crypto.
Coinbase CEO Brian Armstrong previously criticized Apple for not playing nice with the crypto industry, alleging 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 released its credit card in 2019, the company said it would not allow customers to use the cards to buy cryptocurrency. Apple has a history of kicking crypto, blockchain, and NFT apps out of its App Store. Earlier this year, the Cupertino-based company pulled Binance, Kraken, and several of the world’s largest crypto exchanges from its App Store in India.
Apple CEO Tim Cook said in a 2021 interview that he was looking into enabling Apple Pay to purchase crypto, and even noted that he owns crypto himself. However, Cook said at the time that he wants to keep his company at an arm’s length from the crypto industry.
