Coinbase Launches Crypto Payments via WhatsApp, Facebook and More

After a prolonged crypto winter, the ice might be starting to thaw. It’s been a terrific few months for the industry, with the Securities and Exchange Commission (SEC) likely to approve a spot crypto ETF while the price of most assets is up 20%+. Joining the pile of positive news is Coinbase, which may have just made the largest stride yet toward widespread digital currency adoption.

Messaging Apps to Accept Low-Cost Crypto Transfers

Coinbase, a crypto exchange and public blockchain company, has upgraded its popular decentralised wallet. This will allow users to instantly send crypto to one another via prominent messaging apps such as Facebook and WhatsApp. The feature will be supported in over 170 countries, although it’s worth noting the recipient must also have a Coinbase Wallet linked to their device (smartphone or computer).

Other online platforms that work alongside the new payment system include TikTok, Instagram, Snapchat and even email.

It’s important to note that the transaction mechanism isn’t directly integrated with these social media applications. Rather, it is native to the Coinbase wallet and essentially simplifies how to send and receive cryptocurrency. Users can effectively input the details of the crypto they wish to send (amount and type) and then generate a one-click link they can send to anyone as a message. Then, the recipient clicks the link, which will open their Coinbase Wallet app (or open a link to download the app) where they can claim their new funds.

However, the improved efficiency of sending crypto finally returns the sector to its roots – a convenient way to send money globally, rather than a store of value.

COIN Flips On the NASDAQ

Coinbase is one of crypto’s very few publicly traded companies – not even giants Binance have gone public yet. Since the stock’s IPO at around AUD $340 (USD $222), it has sunk 60% as Coinbase struggled to navigate the crypto winter.

However, news of the Coinbase Wallet upgrade saw investors eager to put their money back into the exchange, with the price of COIN up 50% over the past month and 220% in the last year.