- Apple has opened up access to its NFC and Secure Element (SE) payment chips to third-party developers, paving the way for cryptocurrency payments on iPhones.
- iPhone owners will soon be able to make crypto payments using the USDC stablecoin by simply tapping their phones at the point of sale, with payment confirmation via FaceID or other biometric features.
- The feature will initially be available in the US, UK, Japan, and Brazil, but could potentially expand to other regions in the future, impacting sectors like retail and loyalty programs.
Apple has taken a significant step towards integrating cryptocurrencies into digital payments by opening up access to its NFC payment chips to third-party developers for the first time. This decision will allow iPhones to be used for crypto payments simply by touch.
Tap-and-go payments with USDC
Circle, the company behind the USDC stablecoin, has announced that iPhone users will soon be able to make crypto payments as easily as using Apple Pay. Thanks to Apple’s opening, it will be possible to pay directly with USDC at points of sale using iPhones, with payment confirmation via FaceID or other biometric features. Circle CEO Jeremy Allaire pointed out this could pave the way not just for USDC payments but also other applications like NFTs and stablecoins including EURC.
Launching first in the US, UK, Japan and Brazil
Initially this tap-and-go payment feature will be available in selected countries including the US, UK, Japan and Brazil. The EU is not included in the initial launch but Apple’s openness could lead to future global expansion. This innovation could impact sectors like retail and loyalty programs, creating new opportunities for consumers and businesses.
Conclusion
Apple allowing access to its NFC chips is a milestone for crypto payment adoption. While the launch is limited, it’s a first step that may lead to global mainstream use of cryptocurrencies for everyday transactions.
