Coinbase integrated Apple Pay to allow users based in the UK to purchase cryptocurrencies directly on the exchange using their iPhones.

According to Coinbase, integrating Apple Pay into the exchange will allow users to access a secure and private way of buying cryptocurrencies. The exchange also noted that the offering would pay much attention to user privacy by not storing the user card numbers on a device or Apple servers.

Coinbase Integrates Apple Pay for UK Users

The exchange noted that this payment method will involve a unique device account number that will be assigned to users. This number will be encrypted and later stored in an industry-standard chip which will carry the payment information.

The county director of Coinbase in the UK, Daniel Seifert, opined that this new integration would boost accessibility to digital assets in the UK. The integration comes at a crucial time when the level of cryptocurrency adoption in the UK has increased significantly.

Coinbase noted that in the UK, more than six million adults own cryptocurrencies. The exchange plans to increase this number by integrating Apple Pay. This offering will lower the barrier to entry for people looking to invest in digital assets.

Crypto Trading Volumes Remain Low

The exchange is also looking to boost its standing in the crypto industry following the notable decline in crypto trading volumes. These volumes have been on a slump as the market awaits the next thing that will drive crypto prices higher.

One of the upcoming events that could increase the price of cryptocurrencies and potentially boost trading volumes is the Bitcoin halving. The halving is slated to happen on April 20, with the market anticipating that this event will trigger gains in Bitcoin and high market interest as has been seen in the past.

Coinbase also noted that it was facing a rough time with the “typically weak time of year” as interest in risky assets such as crypto declined.

Besides the trading volumes being significantly low, Coinbase is also dealing with reduced interest in cryptocurrencies on social media. The reduced social media engagement shows that interest in the retail market remains significantly low.

The recent geopolitical tensions between Iran and Israel are also dampening interest in cryptocurrencies. Bitcoin plunged significantly after reports that Iran had fired missiles at Israel, with the market now awaiting to see the next course of action.

There are also concerns about the decisions to be taken by the Federal Reserve and other central banks around interest rates. Fed decisions on interest rates tend to affect the demand for risk assets such as cryptocurrencies.