Introducing a new remittance method
Leading US cryptocurrency exchange Coinbase has introduced a new service that allows customers to send cryptocurrencies to each other for free through the world’s most used communication app.
Send money anywhere you can send a link.
Easily. Instantly. For free.
⤷ https://t.co/CKyLu1wYEw pic.twitter.com/XX9YaZZEPm
— Coinbase Wallet 🛡️📞 (@CoinbaseWallet) December 5, 2023
Supported apps include TikTok, WhatsApp, Facebook, Snapchat, Instagram, and email, where users can send and receive money through “links” in the cryptocurrency wallet Coinbase Wallet.
“Instead of complex routing numbers, bank account numbers, expensive wire transfers, bank fees, or waiting up to 5 business days for your money to be sent, simply use a link from your Coinbase Wallet,” Coinbase said in a press release. Now, you can use your usual messaging and social apps to send USDC and other funds with no fees and instant payments.”
The service is available in 170 countries where Coinbase Wallet can be downloaded.
Coinbase stock price is -0.63% from the previous day, and has increased about 4.2 times since the beginning of the year.
Virtual currency enters everyday use
This remittance service is one of Coinbase’s measures to promote the daily use of virtual currencies.
The company’s CEO, Armstrong, also stated in his blog the day before that virtual currencies will increasingly be used as an alternative to the US dollar, the key currency, suggesting that the company is focusing on this area.
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