Coinbase to allow users to use card via Apple, Google wallets

Coinbase said it will automatically convert all cryptocurrency to USD and transfer the funds to a customer's Coinbase Card.

Coinbase (REUTERS)

Coinbase Global Inc launched a tie-up with Apple and Alphabet Inc's Google on Tuesday that will allow users to add cards from their accounts to the payment apps run by the two tech giants.

The Coinbase card added to the wallets can be used to buy everyday goods with digital currencies, the biggest U.S. cryptocurrency exchange said in a blog post.

The company said it will automatically convert all cryptocurrency to U.S. Dollars and transfer the funds to a customer's Coinbase Card for use in purchases and ATM withdrawals.

It also said users can earn crypto rewards on their shopping when a Coinbase Card is used with Apple Pay or Google Pay.

Coinbase's move comes after PayPal Holdings Inc said it would allow U.S. consumers to use their cryptocurrency holdings to pay millions of its online merchants globally, significantly boosting use of digital assets in everyday commerce.