Apple Exec: “We're Watching Cryptocurrency”

Apple Exec: “We're Watching Cryptocurrency”

You may have heard of Jennifer Bailey, the vice president of Apple’s payments service, Apple Pay. Baily has recently spoken on cryptocurrency saying that there is potential in digital currencies.

Is Apple taking a bite out of crypto?

Yes, it seems that one of the biggest companies in the world, a household name to most families, is looking into cryptocurrency. Or at least, they are keeping an eye on it as Bailey recently attended a private event in San-Francisco and said:

“We're watching cryptocurrency. [...] We think it's interesting. We think it has interesting long-term potential.”

As Apple is seemingly getting their paws involved with cryptocurrency which is following a similar path to that of other tech firms like facebook who recently announced their upcoming Libra cryptocurrency in June. one analyst at Wedbush Securities, Dan Ives has commented on the topic and has said:

“This would be a major shot in the arm for crypto if Apple headed down this [the same as Facebook] path. [...] Given where Apple strategically is focused, a move into crypto could make sense given its sights on further monetizing its consumers over the coming years.”

One of Apple’s biggest milestones is the aforementioned Apple Pay and whereas the firm hasn’t revealed how many people use the service, they claim that the service processes almost one billion transactions on a monthly basis… that’s a lot of online shopping!

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Bailey has also claimed that ever since the product’s launch in 2014, store acceptance of contactless payments in the United States has from significantly from three percent to seventy percent.

If Apple were to get involved with the crypto space then this would be a huge feat for the space. Ideally, the firm would somehow integrate it with Apple Pay, although I’m not even sure if that’s possible!  Just imagine going to buy your next ASOS or Depop order and using your fingerprint to pay for your products with cryptocurrency. 

It will be interesting to see if Apple does get involved with crypto. For more news on this and other crypto updates, keep it with CryptoDaily!

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