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Tink, a Visa Solution, and Coinbase have formed a
partnership to allow crypto purchases through Pay by Bank in Germany.

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Pay by Bank is an open banking-powered payment method that
allows consumers to transfer money directly from one bank account to another –
quickly, securely, and without the need for manual data entry.

Tink and Coinbase Introduce Pay by Bank Option

Tink said the collaboration with Coinbase marks a step
toward expanding open banking use cases in the digital assets sector. The
company believes that direct bank payments can improve user experience and
reduce friction in crypto transactions.

“This partnership adds a new service for Coinbase users in
Germany, giving them more choice in how they manage their crypto purchases,”
Thomas Gmelch, Head of Commercial, Central Europe at Tink, said. He noted that
open banking has become a key enabler for faster and more secure payments in
regulated markets.

“Having a Pay by Bank option makes it possible to check out
quickly and securely on a mobile device, directly from a bank account,” Gmelch
added.

Users Buy Crypto Directly from Bank Accounts

Through the partnership, Coinbase users in Germany can buy
and sell crypto directly from their bank accounts. The integration uses Tink’s
technology, allowing customers to top up accounts quickly via mobile devices.

“The partnership with Tink is the latest step in making it
easier to securely access the crypto economy,” Denny Morawiak, Managing
Director of Coinbase Germany, commented.

Citi, Coinbase Partner on Digital Payments

Citi
and Coinbase have agreed to collaborate on digital asset payment solutions
for institutional clients. The partnership aims to update fund transfers
between fiat and digital asset platforms, improve access to on- and off-ramps,
and explore round-the-clock payment orchestration.

This article was written by Tareq Sikder at www.financemagnates.com.

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