MetaMask to add Coinbase Pay service to its platform

Crypto exchange customers will be able to buy digital assets using debit cards and bank accounts specified in the account

26.05.2022 - 09:20

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2 min

What’s new? The MetaMask cryptocurrency wallet has announced the integration of Coinbase Pay, a payment service, in the coming weeks. Once it takes place, customers of the decentralized wallet will be able to fund their balances in cryptocurrency using an account on the Coinbase exchange as well as bank cards linked to their account.

We'll soon be integrating Coinbase Pay into MetaMask as a method of transferring & purchasing crypto. 🦊💙@Coinbase is launching this integration with MetaMask first as they roll out to the web3 ecosystem!1/ https://t.co/4T0CyzlNWl— MetaMask 🦊💙 (@MetaMask) May 24, 2022

What else is known about the integration? The MetaMask wallet will be the first third-party app to carry out Coinbase Pay integration. In the first phase of the integration, it will be possible to use the service only in desktop versions of browsers.

What is known about Coinbase Pay? It is a service launched in March 2022 for users of the Coinbase cryptocurrency exchange. It can be used to fund one’s wallet via the Coinbase Wallet extension in the Chrome browser.

What events happened before? On March 29, 2022, MetaMask added support for Apple Pay for iOS users. On April 14, the developers of the cryptocurrency wallet reported that they would add support for BTC and other cryptocurrencies. The bitcoin wallet feature would be available to connect using the BitcoinSnap system. MetaMask unveiled a demo version of the new feature, the project is still in the development stage.

In May, MetaMask partnered with MoonPay, a service for buying digital assets. Through this partnership, wallet users can purchase cryptocurrencies using bank cards directly through the app.

On May 17, Coinbase began beta testing a browser and a wallet for decentralized applications (dApps) based on the Ethereum blockchain. Users were given access to buy NFTs on marketplaces such as Coinbase and OpenSea, trade on exchanges such as Uniswap and Sushiswap, as well as lend and swap cryptocurrencies through DeFi platforms such as Compound and Curve.

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