Crypto.com (CRO), a cryptocurrency exchange and payments provider, has announced today that its app would begin supporting Apple Pay for users in the United States. However, for the time being, the new payment method is only available to customers in the United States, with the exception of those in New York State and the US Territories. The option will be available in other countries in the near future.
How it works and the changes it brings to Crypto.com users
Users will first need to connect their debit or credit card to the Apple Wallet app on their iPhone in order to use the newly available payment option. Ongoing purchases of crypto will be simple to make using Apple’s payment app, the company stated in a statement.
Before using this feature, iPhone users must first enter their credit or debit card information into Apple Wallet. As soon as users have uploaded their debit or credit card information to Apple Wallet, they will be able to utilize Apple Pay to purchase cryptocurrencies within the Crypto.com app. Using Apple Pay is both convenient and safe. Furthermore, the fees and trading restrictions that now apply to purchases of cryptocurrencies with credit or debit cards will remain unchanged.
Each time a transaction is successfully completed, a new balance will be displayed in the app’s history so the user can keep track of previous transactions. This will happen once the transaction is complete.
Despite the general bearishness of the crypto market, Crypto.com has continued to increase its investments. This week, Singapore’s main financial regulator gave the company “in principle” approval. This set it on course to securing a Major Payment Institution License. If granted, it will be able to provide a variety of payment services within a controlled environment that adheres to Singaporean legislation.