Coinbase Adopts Apple Pay for Crypto Purchases amid Market Slowdown

To facilitate cryptocurrency purchases for UnitedKingdom-based users, the crypto exchange Coinbase has announced the integrationof Apple Pay functionality. This development allows users to buy Bitcoin andother digital assets directly through their iPhones using the Apple Payfeature.

Implementing Apple Pay Feature for Safer Transactions

According to Coinbase, enabling Apple Pay provides userswith a "more secure and private" method of purchasingcryptocurrencies. The exchange emphasized that when transactions are made usingApple Pay, card numbers are not stored on the device or Apple servers. Instead,a unique device account number is assigned, encrypted, and stored in a chipdesigned for securing payment information.

This integration arrives at a time when the cryptocurrencymarket is experiencing a slowdown in trading volume and retail interest.Coinbase recently reported decreasing crypto volumes as the market seeks newnarratives to drive prices higher. While the upcoming Bitcoin halving eventcould potentially spark price increases, the exchange acknowledged thechallenge of navigating a historically weak period for risky assets likecrypto.

Daniel Seifert, the UK Country Director at Coinbase, stated that the new integration helps make accessibility to digital assets easier inthe country. He said: We know usersalready love using Apple Pay in their daily lives, so it only made sense tobring this convenient way to pay to Coinbase as well.

JUST IN: #Coinbase integrates Apple Pay for UK users, allowing secure and private crypto purchases directly on iPhones.

Crypto Social Media Engagement Wanes despite Market Buzz

Beyond trading volume, social media engagement data indicates subdued retail interest in cryptocurrencies. LunarCrush, a socialanalytics platform, observed fewer posts related to Bitcoin, Ethereum, andother cryptocurrencies on social media platforms. Joe Vezzani, the CEO at LunarCrush, noted thatsocial interactions within the crypto space are currently lower compared toprevious bull markets, even after accounting for spam and bot activity.

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Is Cryptocurrency Legal in the UK?

Over the past few years, cryptocurrency has come into the public eye more than ever, as large investment firms begin to heavily invest in blue-chip cryptocurrencies like Bitcoin and Ethereum.

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FCA Registered OANDA Crypto Platform to Offer Crypto Trading in the UK

The US-based forex broker OANDA has announced its foray into thecryptocurrency trading realm in the United Kingdom with the launch of its newplatform, OANDA Crypto. The platform, registered with the countrys financialregulator, the Financial Conduct Authority (FCA), is poised to offer an arrayof cryptocurrency trading options to British investors.

OANDA Ventures into the UK Crypto Market with OANDA CryptoPlatform

The establishment of OANDA Crypto represents the culminationof last years acquisition of a majority stake in the FCA-registered crypto firmCoinpass. This strategic move positions OANDA to tap into the burgeoning cryptomarket in the UK, which has witnessed a surge in interest and participation.

OANDACrypto is set to facilitate trading in over 63 cryptocurrency pairs featuringpopular digital assets, such as Bitcoin, Ether, and Ripple. The company hasoutlined plans to incorporate additional tokens and introduce new featuresthroughout the year, catering to the evolving needs and preferences of cryptotraders.

Journey from the US to the UK and Mainland Europe

Lucian Lauerman, OANDAs Head of Digital Assets, emphasizedthe allure of the UK market, citing its high level of participation andsophisticated investor base. In an interview, Lauerman stated: What we likedabout the opportunity in the UK, when it comes to crypto, is that its becomingmore aligned with the markets where weve traditionally operated. Theregulatory bar has been set slightly higher.

Global trading firm @OANDA is opening an FCA-registered crypto division in the UK. By @IanAllison123https://t.co/KCmSVealIu

OANDAs expansion into the UK follows its existing presencein the US crypto market through a partnership with Paxos, regulated by the NewYork State Department of Financial Services. Furthermore, the company hasrealigned its operations in mainland Europe by relocating from Malta to Warsaw,Poland. This strategic move was facilitated by the acquisition of the Polish brokerDom Maklerski TMS Brokers SA, which has been rebranded as OANDA TMS.

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