New Features in Coinbase Wallet Simplify International Money Transfers – Crypto Adoption on the Rise?

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Fredrik Vold

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Fredrik Vold

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December 6, 2023 07:14 EST

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Coinbase Wallet is introducing enhanced features to facilitate seamless, cost-effective, and rapid international money transfers, potentially contributing to increased crypto adoption.

According to an announcement from Coinbase from Tuesday, users can now send money effortlessly through any platform where they can share a link, including popular messaging apps like WhatsApp, Apple’s iMessage, and Telegram, as well as various social media platforms and email.

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

The latest updates aim to simplify the process of sending money globally by eliminating the complexities associated with traditional banking, including account numbers and long waiting times.

Instead, Coinbase Wallet users can generate a link within Coinbase Wallet, share it via messaging or social apps, and enable instant settlements with no transaction fees.

Most useful for cross-border payments

This development is particularly advantageous for cross-border transactions, sparing users from the hassles of wire transfers and excessive bank fees.

Coinbase Wallet’s global accessibility, available in 20 languages and over 170 countries, allows funds to be claimed worldwide.

New ‘simple mode’

According to the update from Coinbase, the introduction of an optional “simple mode” in Coinbase Wallet is expected to further enhance the user experience, focusing on essential functions like buying, sending, receiving, and storing digital assets.

The optional feature aims to streamline the platform, catering to both beginners and experienced users, Coinbase said.

Coinbase Wallet expanding global reach

Moreover, Coinbase Wallet is expanding its global reach by offering local fiat onramps in 130+ countries, supporting leading payment methods in various regions.

The initiative was described by Coinbase as important for individuals in high-inflation economies with limited access to stable currencies, providing them with a gateway to the global financial system.

Coinbase Wallet allows users to receive money from any crypto exchange, buy the stablecoin USDC without fees through Coinbase Pay, and send USDC globally across multiple blockchain networks.Top of Form