Circle, the issuer of the USDC stablecoin, added support for Apple Pay (AAPL)to help to boost the use of the coin by allowing crypto businesses to accept the payment method.
- Apple Pay can now be used to make payments in Circle USDC to help boost business sales.
- Payments can be made via Apple’s Safari browser or in apps using iPhone, Apple Watch, iPad, and other supported devices
- This development is accessible to both crypto natives and traditional businesses.
Building the Future Of Commerce
USDC issuer Circle introduced payments for eligible businesses via Apple Pay, a move it expects to help build the future of commerce by boosting businesses' sales and making payments faster, easier, and more secure, according to the announcement.
The strategic partnership between crypto behemoth Circle and tech giant Apple will allow payment via Apple’s Safari browser or in apps using iPhone, Apple Watch, iPad, and other supported devices. Hence, customers will no longer have to create an account or fill out lengthy forms.
For crypto-native businesses, it's a powerful way to build connections with customers who enjoy using traditional methods such as Apple Pay for payment while also accepting payment from customers who don't use crypto at all. It should benefit NFT marketplaces, crypto gaming, crypto exchanges, crypto wallets and cross-border remittance providers. At the same time, traditional businesses can take the opportunity to adopt digital currency, including USDC as a settlement option for retail payments.
The Bottom line
Developments such as this are significant in the crypto market, considering the current wake of market conditions and the FTX chaos. Apple’s entry will help boost adoption across its wide range of existing users. USDC appears to boost investors' confidence in stablecoin following incidents of stablecoins crashing.