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News

TrueLayer To Power Coinbase’s Open Banking Payments

November 17, 2022 - Around 2 mins mins to read
In order to allow UK consumers to top up their accounts via their mobile banking app, TrueLayer has partnered with Coinbase.
TrueLayer To Power Coinbase's Open Banking Payments
TrueLayer To Power Coinbase's Open Banking Payments 3

As the open-banking startup considers adding a stablecoin product to its crypto-focused service, this is a part of a larger push into digital assets.

UK users will be able to directly link their bank accounts to Coinbase through this partnership, authenticate using a banking app, and then confirm payment. This will gradually be implemented throughout Europe in the upcoming months.

Francesco Simoneschi, CEO and co-founder of TrueLayer, stated:

“Payment methods like cards and manual bank transfer don’t support an efficient fiat to crypto on-ramp. That creates a poor user experience and unnecessary operational overheads for exchanges.

Unencumbered by legacy, open banking payments powered by TrueLayer are digitally native, delivering a faster, more convenient way to pay that is better at protecting against fraud, and less costly for businesses.”

TrueLayer To Power Coinbase's Open Banking Payments
TrueLayer To Power Coinbase's Open Banking Payments 4

Two months have passed since TrueLayer’s open-source provider reduced 10% of its workforce due to challenging market conditions that have affected many fintechs in the industry.

As a result of FTX‘s recent bankruptcy, which has had an effect on many connected exchanges and crypto organizations, there has also been a significant crypto market crash.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Coinbase

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

TrueLayer To Power Coinbase’s Open Banking Payments

In order to allow UK consumers to top up their accounts via their mobile banking app, TrueLayer has partnered with Coinbase.
TrueLayer To Power Coinbase's Open Banking Payments
TrueLayer To Power Coinbase's Open Banking Payments 7

As the open-banking startup considers adding a stablecoin product to its crypto-focused service, this is a part of a larger push into digital assets.

UK users will be able to directly link their bank accounts to Coinbase through this partnership, authenticate using a banking app, and then confirm payment. This will gradually be implemented throughout Europe in the upcoming months.

Francesco Simoneschi, CEO and co-founder of TrueLayer, stated:

“Payment methods like cards and manual bank transfer don’t support an efficient fiat to crypto on-ramp. That creates a poor user experience and unnecessary operational overheads for exchanges.

Unencumbered by legacy, open banking payments powered by TrueLayer are digitally native, delivering a faster, more convenient way to pay that is better at protecting against fraud, and less costly for businesses.”

TrueLayer To Power Coinbase's Open Banking Payments
TrueLayer To Power Coinbase's Open Banking Payments 8

Two months have passed since TrueLayer’s open-source provider reduced 10% of its workforce due to challenging market conditions that have affected many fintechs in the industry.

As a result of FTX‘s recent bankruptcy, which has had an effect on many connected exchanges and crypto organizations, there has also been a significant crypto market crash.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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