International cryptocurrency exchange platform Coinbase is making it easier for UK customers to buy and sell cryptocurrencies with the launch of Apple Pay.
The integration, announced on Wednesday, is part of Coinbase’s efforts to increase crypto adoption in the UK.
Coinbase UK Launches Apple Pay For Customers
The UK is a key market for Coinbase, with the country seeing over $1.39 billion in cryptocurrency gains last year alone. The integration with Apple Pay is expected to make it even easier for UK residents to buy and sell cryptocurrencies.
JUST IN: #Coinbase integrates Apple Pay for UK users, allowing secure and private crypto purchases directly on iPhones.
— Satoshi Club (@esatoshiclub) April 10, 2024
“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,” said Daniel Seifert, Country Director for the U.K. and Vice President, EMEA at Coinbase. “We know users already love using Apple Pay in their daily lives, so it only makes sense to bring this convenient way to Coinbase as well.”
Crypto Market Struggles Amidst Push For Greater UK Crypto Adoption
The launch of Apple Pay comes at a time when the crypto market is facing some challenges. In its latest market commentary report released April 5, Coinbase noted that crypto volumes have “continued to slow as the market tries to find the next narrative to power it higher.”
It’s happening. The next Bitcoin halving is coming this month. While the fundamentals are the same, the introduction of Bitcoin ETFs and unprecedented levels of institutional participation could make the fourth halving cycle a little different. Here’s why. https://t.co/CPSk3P9ilf
— Chainalysis (@chainalysis) April 9, 2024
However, Coinbase believes that the upcoming Bitcoin halving event, scheduled for April 20 or 21, could provide a boost to the market.
The halving event will see the block reward for Bitcoin miners cut in half, which is expected to lead to a decrease in the supply of Bitcoin and an increase in its price.
The launch of Apple Pay and the upcoming Bitcoin halving event are both positive developments for Coinbase and the UK crypto market.
Coinbase is well-positioned to capitalize on the growing interest in cryptocurrencies in the UK, and the Apple Pay integration is a major step forward in making cryptocurrencies more accessible to UK residents.
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