Coinbase Partners With Tink To Allow German Users To Buy Crypto From Their Bank Accounts
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Cryptocurrency exchange Coinbase and Visa Solution, Tink, have collaborated to enable crypto transactions through Pay by Bank in Germany. Pay by Bank is an open banking-powered payment platform that gives users the ease of transferring money.
The app offers convenience for users, enabling them to easily move funds from one bank account to another. The partnership will ensure speed and security without the need for manual entry.
Tink Expands Its Open Banking Solution In The Digital Assets Space
Head of Commercial, Central Europe at Tink, Thomas Gmelch, commented on the partnership. “This partnership adds a new service for Coinbase users in Germany, giving them more choice in how they manage their crypto purchases,” he said.
He added that open banking is now the main facilitator of more secure and faster payments. Pay by Bank solution offers flexibility and seamlessness in the transfer of funds. With the option, users can securely and quickly check out on their mobile device, directly from their bank accounts.
Tink said the partnership with Coinbase comes when the demand for more digital banking options has increased. The partnership is a major step toward enhancing open banking use cases in the digital assets space. The firm says direct bank payments can reduce friction in the crypto sector and improve user experience.
Coinbase says its users in Germany can purchase or sell cryptocurrencies directly from their bank accounts, enabled by the collaboration. It will utilize Tink’s technology, enabling users to top up their accounts through mobile devices.
It takes note of the increasing popularity of mobile payments and the need for an easier way for consumers to make purchases and receive funds for goods and services.
Coinbase Partners With Citi To Bridge The Gap Between Fiat And Digital Assets
Managing Director of Coinbase, Germany, Denny Morawiak, stated that the collaboration is the latest step to assist consumers in having access to the crypto economy without high risks.
The Tink technology is built for security, giving users the confidence that their funds and transfers are safe.
Meanwhile, Coinbase and Citi recently collaborated to launch a digital assets payments network for institutional clients. The collaboration will enable secure and easy transfer of funds between fiat and digital asset platforms. Coinbase says the deal will improve on and off-ramp access to funds, increasing users’ participation in the digital assets economy.
