Coinbase pushes UK crypto adoption with Apple Pay integration

Crypto exchange Coinbase says UK-based users can buy Bitcoin (BTC), Ether (ETH) and other digital assets using their iPhone's Apple Pay feature.

Coinbase believes that enabling Apple Pay will give its users a “more secure and private” way to buy crypto.

When users of the exchange make an Apple Pay purchase, card numbers are not stored on the device or on Apple's servers, he said.

Coinbase explained that there is a unique device identification number that is assigned, encrypted and stored in an industry-standard chip to store payment information.

Coinbase UK Country Director Daniel Seifert said the new integration will help ease access to digital assets in the country. he said:

“We know consumers love using Apple Pay in their everyday lives, so it only makes sense to bring this convenient way to pay to Coinbase as well.”

According to Coinbase, more than six million adults in the UK have their own crypto. The company's Apple Pay integration is part of its efforts to “increase this number” by lowering barriers to entry to digital assets.

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The merger comes as the crypto space faces a slowdown in volume and retail demand. On April 5, Coinbase said that crypto volumes are decreasing as the market tries to find the next narrative to fuel higher.

The exchange suggested that the upcoming Bitcoin halving could bring higher prices. However, the exchange highlighted that it has to deal with a “typically weak time of year” for risky assets like crypto.

In addition to low crypto volumes, social media engagement data also shows weak retail interest in crypto. On April 10, data shared by social analytics platform LunarCrush showed fewer social media posts on crypto-related keywords such as Bitcoin, Ethereum and Solana's (SOL) token.

LunarCrush CEO Joe Vezzani said retail demand and social interaction are low compared to past major bull markets. With the introduction of spam and bots, the executive believes there may be a decline in social media activity in the crypto space.

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