Coinbase adds Apple Pay as payment option in the UK

Rick Steves

“We know users already love using Apple Pay in their daily lives, so it only made sense to bring this convenient way to pay to Coinbase as well.”

Coinbase

Coinbase has announced that its UK users can now use Apple Pay for online and in-app purchases.

With over 6 million UK adults already owning cryptocurrency, Coinbase’s move is designed to further increase participation in the digital asset market. The UK is Coinbase’s second-largest market.

Apple Pay is now a payment option for Coinbase UK users

Daniel Seifert, Country Director for the UK and Vice President, EMEA at Coinbase said: “We are extremely proud to announce our UK users can now use Apple Pay to make easy, secure and private purchases online and in-app, helping us in our goal of increasing accessibility to digital assets in the UK. We know users already love using Apple Pay in their daily lives, so it only made sense to bring this convenient way to pay to Coinbase as well.”

Apple Pay will automatically appear as a payment option for UK users buying crypto through Coinbase, requiring no additional setup for those who have already enabled Apple Pay. The process involves a simple tap on the Apple Pay button at checkout, followed by payment authentication.

Setting up Apple Pay involves adding a credit or debit card to the Wallet app on an iPhone, enabling immediate use. The platform emphasizes security and privacy, with Apple Pay not storing actual card numbers on devices or Apple servers. Instead, a unique Device Account Number is encrypted and stored securely, ensuring that payment information is protected.

This development coincides with the UK Government’s efforts over the past 18 months to introduce regulation for the cryptocurrency sector, fostering a supportive environment for growth and investment.

Canada is now a priority market for Coinbase

While the UK is Coinbase’s second-largest market, the exchange recently said the Canadian market has become a priority target for its international growth strategy. This strategic move, known as the “Go Deep” approach, capitalizes on existing customer relationships to drive further engagement.

This milestone enables Coinbase to operate under the regulatory framework established by the Canadian Securities Administrators following the introduction of new cryptocurrency regulations last year. With this designation, Coinbase becomes the largest registered cryptocurrency exchange in Canada, as confirmed by the Ontario Securities Commission (OSC).

Coinbase also outlined its intention to apply for investment dealer registration and to seek membership with the Canadian Investment Regulatory Organization (CIRO, previously known as IIROC). Additionally, Coinbase plans to register as an alternative trading system (ATS).

Citing a study it participated in, Coinbase revealed that nearly a third of Canadians plan to buy cryptocurrencies if more regulatory measures were in place. Previously, Coinbase expanded its operations by recruiting 200 individuals to develop a customized platform for Canada, its largest market outside the U.S.

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