Coinbase, a leading cryptocurrency platform, has unveiled a groundbreaking feature in its Coinbase Wallet, introducing a revolutionary method for users to send money globally using shareable links. This innovative feature is designed to simplify, expedite, and reduce the costs associated with international money transfers.
Users can now seamlessly send funds to family or friends in different countries without navigating the complexities of routing numbers, bank account details, expensive wire transfers, bank fees, or enduring up to 5 business days for funds to clear. Instead, Coinbase Wallet users can generate a link within the platform and share it via their preferred messaging and social apps, facilitating instant settlement with no attached fees.
This streamlined process eliminates the need for multiple app downloads or extensive profile searches. Users can effortlessly create a link in Coinbase Wallet, share it with a few taps, and globally send money as effortlessly as sending a text, direct message, or email. Available in 20 languages and spanning over 170 countries, the funds can be claimed globally at any time.
Recipients, upon clicking the shared link, are directed to the Coinbase Wallet app to claim the funds or guided to download the app on iOS or Android, creating a new wallet in just one click. Unclaimed funds within a two-week period are automatically returned to the sender.
In its quest for expanded global access, Coinbase plans to enable digital asset purchases in as many countries as possible, particularly benefiting those in high-inflation economies with limited access to the global financial system. Coinbase Wallet supports local fiat onramps in 130+ countries, integrating leading payment methods like Pix in Brazil, Instant P2P Bank in Nigeria, GCash in the Philippines, and more.
Moreover, Coinbase Wallet enables users to receive money from any crypto exchange or self-custody wallet, purchase USDC without Coinbase fees wherever Coinbase Pay is available, and globally send USDC with zero fees on networks such as Arbitrum, Avax, Base, Optimism, and Polygon. Users can also conduct fee-free USDC payments in various coins through Coinbase Wallet messaging.
To cater to beginners, Coinbase is introducing an optional simple mode in Coinbase Wallet, concentrating on essential functions like buying, sending, receiving, and storing digital assets. These updates align with Coinbase’s commitment to simplifying money transfers, reducing costs, speeding up processes, and fostering a borderless financial landscape, thereby enabling millions to actively participate in the crypto economy.
