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  • Writer's pictureAmiran Azaladze

Coinbase says Apple blocked its last app release on NFTs in wallet

(Reuters) -Coinbase Global Inc said on Thursday customers using Apple Inc's iOS will not be able to send non-fungible tokens (NFTs) on the cryptocurrency exchange's wallet anymore.

"Apple's claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee," Coinbase Wallet added in a tweet.

The 30% fees has been a contentious point between the world's most valuable company and other app developers like Spotify and "Fortnite" maker Epic Games, which have accused the company of misusing its "monopoly".

Coinbase's issue with Apple comes at difficult time for the crypto exchange, whose shares are down roughly 80% so far this year. The company has also cut jobs to manage expenses as investors lose appetite for cryptocurrencies.

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