Coinbase's CEO had previously criticized Apple for its restrictive policies on crypto, suggesting potential antitrust issues, but this collaboration may help Apple appear more open and collaborative.

The partnership may also lead Coinbase to explore further service expansions, including custody or trading options within its ecosystem.

Coinbase Onramp facilitates free USD Coin (USDC) transactions for both crypto on-ramping and off-ramping, providing access to over 60 fiat currencies and compliance with more than 100 cryptocurrencies.

This partnership is set to benefit over 60 million US users of Apple Pay by providing a quick and convenient payment method across various applications.

The announcement is part of Coinbase's ongoing efforts to innovate and streamline crypto transactions for its users.

Coinbase has integrated Apple Pay into its Onramp service, making it easier for users to purchase cryptocurrencies with fiat currency.

The integration aligns with a more favorable regulatory environment expected under the Trump administration, particularly with the anticipated appointment of pro-crypto SEC Chair Paul Atkins.

This change comes at a politically significant time, as President-elect Trump has indicated a more favorable approach towards the crypto industry, contributing to Bitcoin nearing a price of $100,000.

Following the announcement, Coinbase shares rose by 2.7%, reaching $304 per share, reflecting positive market sentiment.

Despite this growth, Coinbase is scaling back its expansion plans in Turkey, the fourth largest cryptocurrency market by transaction volume, as it reassesses its global marketplace strategy.

As the stablecoin market grows, currently valued at nearly $22 billion, companies are working to lower barriers for new investors entering the crypto space.

Investors are increasingly interested in alternative cryptocurrencies, with Ripple (XRP) rising over 300% since the election, highlighting a renewed optimism in the market.