Apple Paves the Way for USDC Tap-to-Pay on iPhones
Circle CEO Jeremy Allaire announced that tap-to-pay transactions using Circle’s USDC stablecoin are on the horizon for iPhone users. Apple’s move to open up the iPhone’s NFC payment functionality to third-party developers has set the stage for this development, offering new possibilities for crypto and Web3 wallets. Here’s what you need to know about this exciting update:
Apple’s NFC Payment Expansion
After facing pressure from regulators, Apple has decided to grant third-party developers access to its NFC chip, a move that will revolutionize how payments are processed on iPhones. This decision marks a significant shift in Apple’s approach to NFC technology and opens up a world of opportunities for developers and users alike.
- Apple succumbs to pressure from regulators and opens up NFC technology
- Third-party developers will gain access to the iPhone NFC chip with the upcoming iOS 18.1 update
- Developers must enter into a commercial agreement with Apple and adhere to strict standards to participate
- The expansion of NFC payments will initially be available in select countries
Understanding USDC
USDC, Circle’s stablecoin, is making waves in the crypto market as the second-largest stablecoin after USDT. With a market cap of nearly $35 billion, USDC has gained popularity among crypto enthusiasts for its stability and versatility. Here are some key points to know about USDC:
- USDC is the second-largest stablecoin in the market, trailing only USDT
- Circle recently received approval to issue USDC in Europe, expanding its reach globally
Hot Take: Embracing the Future of Crypto Payments
With Apple’s decision to open up NFC payments to third-party developers, the stage is set for a new era of crypto transactions on iPhones. As USDC tap-to-pay becomes a reality, the crypto community can look forward to seamless and secure payment experiences on their mobile devices. Stay tuned for more updates on this exciting development!