Coinbase Global Inc launched a tie-up with Apple and Alphabet Inc’s Google on Tuesday that will allow users to add cards from their accounts to the payment apps run by the two tech giants.
The Coinbase card added to the wallets can be used to buy everyday goods with digital currencies, the biggest US cryptocurrency exchange said in a blog post.
“You can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto¹ at home and on the go. Starting this week, we’ll invite select customers off the waitlist to begin earning up to 4 per cent back in crypto rewards,” the company said.
The company said it will automatically convert all cryptocurrency to US Dollars and transfer the funds to a customer’s Coinbase Card for use in purchases and ATM withdrawals.
It also said users can earn crypto rewards on their shopping when a Coinbase Card is used with Apple Pay or Google Pay.
“If you’re a Google Pay user, you can add your Coinbase Card from the Google Pay app. If you’re an Apple Pay user, you can add your card from the Apple Wallet app or from within the Coinbase app. On the iPhone, Apple Pay is easy to set up: simply open the Wallet app, tap +, and follow the steps to add your card,” the company explained.
Coinbase’s move comes after PayPal Holdings Inc said it would allow US consumers to use their cryptocurrency holdings to pay millions of its online merchants globally, significantly boosting use of digital assets in everyday commerce.