Top US-based crypto exchange Coinbase is unveiling instant global transfers of the stablecoin USDC via social media apps.
In a new blog post, Coinbase says that users of its crypto wallet can now instantly send money across the world without having to deal with the complexities of bank transfers.
According to Coinbase, the money can now be instantly sent anywhere in the world using popular social media platforms such as WhatsApp, Telegram, Facebook, iMessage, TikTok, Instagram, or even just an email.
“Let’s say you want to send money to family or friends in another country. Instead of dealing with the complexity of routing numbers, bank account numbers, expensive wire transfers, bank fees, and waiting up to five business days for the money to become available, simply use a link from Coinbase Wallet to send via your favorite messaging and social apps with no fees and instant settlement…
We’ve made it easy to send money anywhere you can share a link, whether it’s through messaging apps like WhatsApp, iMessage, and Telegram, social media platforms like Facebook, Snapchat, TikTok, and Instagram, or even via email.”
Furthermore, Coinbase says its wallet is available in 130 countries – making remittances easier – and that there are no fees associated with sending the USDC.
“We’ll continue to expand global access by providing options to buy digital assets in as many countries as possible. This is especially important for people in high-inflation economies with limited access to the global financial system and more stable currencies such as the US Dollar.
Coinbase Wallet now supports local fiat onramps in 130+ countries… With Coinbase Wallet, you also can receive money from any crypto exchange or self-custody wallet, buy USDC without Coinbase fees anywhere Coinbase Pay is available, and send USDC globally with no fees on networks like Arbitrum, Avax, Base, Optimism, and Polygon.”
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