Cryptocurrency exchange KuCoin on Tuesday announced that its crypto debit card will now also integrate Apple Pay for its users. The inclusion comes at a time when institutional players have been increasingly partnering with crypto companies.
KuCard to offer Apple pay to users
KuCard, a cryptocurrency debit card launched by KuCoin, will now offer Apple Pay to its users. The partnership will be aimed at creating a more private, safe, and secure method of payment, the exchange said in a statement.
The integration will likely help users avoid sharing their credit card information with third parties, touching physical buttons, or exchanging cash by encrypting every transaction using Apple products.
KuCoin’s new partnership to help customers be safe from scams
Crypto scams have been on the rise since 2022. One of the common ways a scammer can steal someone’s crypto holdings is by charging them falsely on their debit card. However, KuCoin’s new feature of allowing its customers to use Apple Pay via their debit card will help keep information secure and private. Thus, this could potentially lead to the crypto exchange’s customers facing fewer scams in the future.
According to the statement released by KuCoin, to make a contactless payment, customers will need to hold their iPhone or Apple Watch up to a payment terminal. Because each Apple Pay transaction is verified by both a one-time, dynamic security code and either Face ID, Touch ID, or the device passcode, it will be safer for users.
Additionally, users of iPhone, iPad, and Mac may make quicker and more easy purchases through applications or the web in Safari by using Apple Pay, which eliminates the need to create accounts or continually enter shipping and payment information.
Apple Pay’s fundamental principles are security and privacy. The real credit or debit card numbers are never kept on Apple servers or the device when users use Apple Pay. This will protect all private and confidential information that is related to the debit card.
To use the services, customers of the debit card will need to open the Wallet app, select Plus, and follow the instructions to add KuCard to their iPhone. After attaching a card to their iPhone, iPad, Mac, or Apple Watch, users can start using Apple Pay right away.
B2B partnership rise in crypto markets
KuCoin’s decision to let its users integrate Apple Pay services comes at a time when business-to-business partnerships in the crypto markets are on a steady rise. According to a report by Forbes, big institutional players have been collaborating on new blockchain networks. These big names include Deloitte, Microsoft, and Goldman Sachs.
A growing number of businesses across the globe are utilizing Bitcoin and other digital assets for a variety of operational, transactional, and financial reasons.
Establishing crypto alliances is a smart move in today’s extremely competitive and dynamic market. Businesses can cooperate with partners in nations with restricted access to traditional banking and break into new markets by implementing B2B cross-border cryptocurrency payments.
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