Coinbase rolls out crypto transfers via links sent on WhatsApp, Telegram

A new Coinbase Wallet feature allows the transfer of cryptocurrency through a link that can be sent through some of the most popular social media sites and messaging apps, as the cryptocurrency exchange looks to make its service accessible to a broader market.

"Users can now send money on any platform where they can share a link," Coinbase saying in a Dec. 5 blog post, naming apps like iMessage, Telegram, WhatsApp, Facebook, Instagram and TikTok.

There is no payment fee when sending USD coins (USDC), a US dollar stablecoin that Coinbase launched in 2018.

Clicking the link will take the recipient to their device's app store to download Coinbase Wallet, if they haven't already downloaded it, where they can create a wallet with a single click, Coinbase noted.

If funds are not claimed within two weeks, they will be returned to the sender.

Coinbase also created a “simple mode” for its wallet to help new and less savvy tech users that only shows basic functions like buying, sending, receiving, and viewing assets.

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Coinbase says new feature aims to resolve complexities with international bank transfers, which it says often involve high fees and paperwork and can take up to five business days for funds to arrive.

Coinbase (COIN) stock price has increased more than 300% so far in 2023 at $140, but it is still 59% below its all-time high of $343 on November 12, 2021. according to Google Finance.

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