Just a little over three years ago, Apple CEO Tim Cook was inquired about the potential for Apple Pay to accommodate cryptocurrency as a payment option.
“It’s something that we’re examining,” Cook said during a discussion at *The New York Times* 2021 DealBook Online Summit.
Since that time, the cryptocurrency market has gone through notable ups and downs. The “crypto winter” of 2022 caused the market to suffer significant declines, with prominent stablecoins falling and crypto lending services declaring bankruptcy. Fast forward to November 2024, and Bitcoin hit unprecedented heights following Donald Trump’s electoral win, amid predictions that his administration would loosen restrictions and regulations on the crypto sector.
Now, as we near 2025, there are indications of advancements regarding Apple’s payment system and the integration of cryptocurrency. Coinbase has rolled out Apple Pay functionality within one of its offerings, simplifying the process of acquiring cryptocurrency.
“Today, we’re thrilled to share the launch of Apple Pay for all fiat-to-crypto transactions via Coinbase Onramp, the most straightforward tool to create onramps for your existing products,” Coinbase disclosed in a statement on its website.
### **Coinbase Onramp and Apple Pay**
In the cryptocurrency domain, an “onramp” signifies a service that allows users to convert conventional fiat currency, like U.S. dollars, into digital currency stored in their crypto wallets.
By incorporating Apple Pay into its Coinbase Onramp, Coinbase has enabled third-party developers to integrate Apple Pay into other cryptocurrency wallets as well. This means that Apple Pay is not restricted to Coinbase’s platform—it can now be utilized in any product that employs Coinbase Onramp.
The Coinbase Onramp also eases the process for developers by managing the intricate legal requirements generally connected with financial products. Transactions are processed through Coinbase, enabling developers to circumvent some of the regulatory challenges.
### **Apple’s Relationship with Cryptocurrency**
As highlighted by TechCrunch, Apple has traditionally taken a careful approach toward cryptocurrency. In 2019, the company declared it would not permit customers to buy cryptocurrency using its newly introduced Apple Card credit card.
Recent events, however, imply that Apple might be reconsidering its stance. While Apple Pay can now be utilized to convert fiat currency into cryptocurrency through Coinbase Onramp, users are still unable to sell their crypto and convert it back into cash via Apple Pay—at least, not currently. It remains uncertain whether Apple will fully embrace cryptocurrency or persist in maintaining its distance from the sector.