Q&A: What Apple’s embrace of cryptocurrency could mean for the payment industry

An Apple executive last week
confirmed the company is interested
in cryptocurrency, a
revelation that came months after the company launched
its CryptoKit for iOS 13
.

While still speculative, Apple’s CryptoKit is likely the first
step in enabling the exchange of private and public keys that could
allow users to make purchases with  bitcoin and other
cryptocurrencies stored on an iPhone.

[ Read the
Download: Beginner’s guide to blockchain
special report
]

Apple would be only the latest in a flurry of financial
services, ecommerce and social media giants establishing stable
coin technology or cryptocurrency backed by traditional fiat money.
Those companies include
JP Morgan Chase
,
Visa
and
Facebook
, which unveiled its Libra Coin and Calibra digital
wallet earlier this year.


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Source: FS – All Tech News 2
Q&A: What Apple’s embrace of cryptocurrency could mean for the payment industry