Tink and digital assets exchange Coinbase (NASDAQ:COIN) have announced a partnership in order to enable crypto purchases through Pay by Bank in Germany. As covered, Pay by Bank is an open banking-enabled payment option that allows consumers to transfer funds directly from one bank account to another – quickly, securely, and without the requirement for manual data entry.
Customers are now able to top up their accounts in a few taps using Tink’s tech, helping to simplify and streamline access to the so-called crypto-economy.
Thomas Gmelch, Head of Commercial, Central Europe at Tink, said that this partnership adds a new service for Coinbase users currently residing in Germany, giving them more options in how they manage their crypto purchases.
Thomas added that having a Pay by Bank option “makes it possible to check out quickly and securely on a mobile device, directly from a bank account.”
They are pleased to provide individuals, businesses, and developers the tools they need to “support the next wave of crypto adoption.”
Denny Morawiak, the Managing Director of Coinbase Germany, stated that they are eager to introduce Pay by Bank for customers in Germany.
The partnership with Tink is the most recent step in making it easier to securely access the crypto economy (a term that has been widely used by Coinbase over the years to increase awareness about the digital assets and web3 ecosystem).
The latest collab is part of their ongoing efforts to expand their service offering in Germany and underscores the “commitment to being the trusted and compliant offering.”
During the past year, the partnerships between crypto and Fintech firms have surged. It now appears that crypto and merging with traditional financial services. In the foreseeable future, consumers will continue to focus on actual products and services and benefitting from their utility instead of being concerned about the underlying technical details. The end-user only cares about frictionless experiences that allow them to complete routine tasks such as carrying out effortless digital transactions.