Apple recently made a significant announcement regarding the NFC technology on iPhone, stating that third party developers in the European Union and select other regions will soon have access to this technology. This move could potentially open up a world of possibilities for crypto firms and Web3 wallet services, allowing them to offer tap-to-pay functionality beyond just Apple Pay and Apple Wallet.
Circle Co-Founder and CEO Jeremy Allaire encouraged wallet developers to start working on support for Apple’s NFC payments technology following this announcement. Allaire believes that enabling tap-to-pay functionality for USDC stablecoin transactions on iPhones could be a game-changing development for crypto-based payments on the iPhone. This move could potentially revolutionize how transactions are conducted using cryptocurrencies, making them as seamless and accessible as traditional payments.
Cryptos Consultancy CEO Ali Jamal described Apple’s decision to provide access to iPhone NFC functionality as a game-changing move that could usher in a new era in crypto payments. This development could make payments with stablecoins, NFTs, and other cryptocurrencies more easily accessible and widely accepted, leveraging high-performance blockchains like Solana and Avalanche for fast and low-fee transactions.
Apple’s History with Crypto Payments
Apple has faced criticism in the past for its App Store policies, particularly regarding restrictions on crypto-related apps and peer-to-peer payment services. The company has been called out for what some app makers describe as unfair limitations on integrating third-party payment methods with their services. Despite this, Apple has taken a step forward by providing access to NFC functionality for third-party developers, potentially paving the way for a more inclusive ecosystem for crypto payments.
While Apple’s decision to allow access to iPhone NFC functionality to third-party developers is a positive step towards more widespread crypto payments, there is still uncertainty surrounding whether crypto-related apps will be permitted to utilize this feature. It remains to be seen how Apple will navigate the integration of crypto payments into its ecosystem, especially with the upcoming release of iOS 18.1 beta. Developers in select regions will soon have access to the NFC and SE APIs, with more regions expected to follow soon.
Apple’s decision to provide access to its NFC technology to third-party developers has the potential to revolutionize how crypto payments are conducted on the iPhone. This move could open up new possibilities for wallet developers, crypto firms, and users, making crypto-based transactions more seamless, accessible, and widely accepted. As the crypto industry continues to evolve, Apple’s role in supporting these developments could have a significant impact on the future of payments.
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