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Circle, the issuer of the USD-pegged stablecoin USD Coin (USDC), has added support for Apple Pay. It aims to bring cryptocurrencies closer to traditional payment systems.
Circle announced on November 15th blog Sales of crypto-native businesses to facilitate traditional payments from non-crypto customers while allowing customers to buy crypto using Apple Pay on their preferred exchange Posts suggesting that may increase.
According to Circle, the addition of Apple Pay support will benefit traditional businesses by allowing them to “shift more retail payments to digital currencies.”
It claims Apple Pay is available to “qualified businesses” and that enabling it is a “simple process.” Meanwhile, a customer checking out with Apple Pay at a participating business will use her Face ID or Touch ID from Apple to complete the transaction as usual.
Apple has over 1.8 billion active devices worldwide. Apple Pay is one of the most used digital wallets in the US after PayPal, according to he. report.
Related: Apple jobs and patents hint at foray into ‘3D mixed reality’
USDC has the second largest market capitalization in the stablecoin market, second only to Tether (USDT). Tether (USDT) has stoked investor fears after depegging slightly from the US dollar following the fall in FTX.
In an interview with Cointelegraph, Joao Reginatto, vice president of product at Circle, said on Sept. 28, shortly after Circle announced it would be rolling out stablecoins to Polkadot (DOT) and Optimism (OP), in the future. He said he expected it to be a multi-chain world. , Near Protocol (NEAR), Arbitrum, and Cosmos (ATOM) blockchains.
Both Tether and Circle deny exposure to FTX and Alameda as the influence from one of the world’s largest cryptocurrency exchanges spreads across the industry.
