Mainstream adoption of cryptocurrencies just got a boost in these turbulent times.
USDC stablecoin issuer, Circle has just added support for Apple Pay to help enable crypto businesses to accept the payment method.
While the iPhone maker doesn’t support crypto payment directly, USDC users will have the option to make in-app purchases via credit or debit card through Apple Pay.
Apple Pay allows users to save their credit card details onto their iPhone devices, instead of storing the actual card numbers on the device or on Apple servers, and then they can pay via contactless terminals in shops or purchase items through apps.
“This can be especially powerful for crypto-native businesses, since it can help them create stronger connections with customers who want to pay using more traditional methods and even enable them to buy crypto with Apple Pay on their preferred exchange. In fact, Apple Pay and Circle’s Payments solution make it possible for crypto-native businesses to accept payments from customers who don’t use crypto at all,” the company says.
Circle also touted the integration as a way to help NFT marketplaces, crypto gaming, crypto exchanges, crypto wallets and cross-border remittance providers grow their business by making checkout easy with Apple Pay and USDC. Traditional businesses can also take advantage of this new functionality to shift more retail payments to digital currency and experience the benefits of USDC settlement.
One upshot of the new feature is that users will be able to make payments via Apple’s Safari browser or in apps using iPhone, Apple Watch, iPad, and other supported devices. With the new Apple Pay feature, they will no longer have to create an account or fill out lengthy forms.
But it should be noted that to use the new payment option the client must have a Visa, Mastercard, or Maestro card that has been provisioned to Apple Pay.
Circle has been expanding the reach of the offering that is primarily focused on retail trading and investing to appeal for B2B partnerships. The Boston-based firm revealed earlier this month that it plans to roll out its euro-pegged stablecoin on Solana (SOL) network in the first half of 2023.
The move to expand native support of Euro Coin and access to new permissionless cross-chain infrastructure marks Circle’s first in a series of commitments to integrate with other blockchains, including Ethererum and Avalanche.
Before its collapse, Sam Bankman-Fried’s crypto exchange, FTX, was supposed to be the first platform to support deposits, withdrawals, and trading of Solana-based Euro Coin at launch.
In this chaos time of crypto sector with FTX collapse, it is highly recommended not to be biased to any presonally favored direction that many garbage influencers recommendes recently.
This means that business and many development will keep going on and the connection between crypto and traditional economy will be reinforced.
Some Chinese owned exchages appear to take advantage of FTX collapse. But it would not last long witout the rigid basement of its core competition. Soon, next round of crypto survival competition will be held.
I will focus on the real value, competitiveness and real potential to grow, not intentional price boost.
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