USDC stablecoin issuer Circle has introduced support for Apple Pay in an effort to integrate cryptocurrencies with conventional forms of payment.
The blog post suggested that this could increase sales for crypto-focused businesses as they can accept traditional payments from consumers who do not use cryptocurrency while also allowing customers to “buy crypto with Apple Pay on their preferred exchange.”
The inclusion of Apple Pay integration is said to help traditional businesses by enabling them to “shift more retail payments to digital currency.”
Consumers who use Apple Pay at participating businesses will transact as usual via Apple’s Face ID or Touch ID. Apple Pay is available to “eligible businesses” and asserts that enabling it is “an easy process”.
Tim Cook, the CEO of Apple, announced in a Q1 2022 earnings report that more than 1.8 million Apple active devices are in use worldwide. Apple Pay is, following PayPal, one of the most prominent e-wallets in the United States.
Following Circle’s announcement on September 28 that they would launch their stablecoin across Polkadot, Optimism (OP), Near Protocol, Arbitrum, and Cosmos blockchains, vice president of product Joao Reginatto stated in an interview that they believe the future will be a “multi-chain world”.
As the ramifications of FTX’s collapse seeped throughout the industry, Tether and Circle have both denied having any affiliation with FTX and Alameda.
