Coinbase Rolls Out Crypto Purchases Via Visa And Mastercard Debit Cards Linked To Apple Pay

Crypto exchange Coinbase Global Inc (NASDAQ: COIN) has added more ways to make swift purchases of cryptocurrency on its platform.

What Happened: In an announcement on Thursday, the exchange said it was introducing crypto buys with linked debit cards to Apple Inc (NASDAQ: AAPL) Pay and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Pay, with instant cashouts up to $100,000 per transaction available 24/7.

For users that have linked their Visa Inc (NYSE: V) or Masterard Inc (NYSE: MA) debit cards to an Apple Wallet, Apple Pay will now automatically appear as a payment method when buying crypto with Coinbase.

Until now, only Coinbase cardholders could buy crypto using Apple Pay, making this new upgrade an important one in terms of easing access to crypto for a larger investor base.

Coinbase said that it will add support for Google Pay later this fall, which will provide an added layer of security using a combination of virtual account numbers and encryption.

“We’re also making it easier and faster for you to get access to your money. Coinbase is the first crypto exchange to offer instant cashouts via Real Time Payments (RTP), enabling customers in the U.S. with linked bank accounts to instantly and securely cash out up to $100,000 per transaction,” said Coinbase in a blog.

Unlike Automated Clearing House (ACH), where transfers can take up to 5 days, RTP enables instant cashouts where users can access their money at any time and without uncapped fees.

Price Action: Coinbase shares traded at $254.85, 0.25% lower than at Thursday's close.