- Jeremy Allaire has hinted that crypto payments via tap-to-pay on Apple devices could be imminent following Apple’s iOS 18.1 update
- Apple has announced that developers can now offer NFC contactless transactions within their own apps, separate from Apple Pay and Wallet
- The Circle CEO suggested the potential for using USDC on iPhones, marking a significant step for easy crypto payments
Jeremy Allaire, CEO of Circle, has suggested that tap-to-pay on Apple devices using cryptocurrencies could be imminent following an update from the tech company. Apple announced yesterday that, starting with iOS 18.1, developers will be able to offer NFC contactless transactions using the Secure Element (SE) from within their own apps, independent of Apple Pay and Apple Wallet. In response, Allaire tweeted, “Tap to pay using USDC on iPhones incoming soon. Wallet devs, start your engines,” hinting at a new horizon for easy crypto payments.
Apple Opens Up
Apple’s move to open its NFC and SE APIs marks a pivotal moment for the crypto community. By allowing developers to create apps that utilize the iPhone’s hardware for secure, contactless transactions, Apple is effectively laying the groundwork for integrating digital currencies into everyday commerce.
Allaire’s excitement is well-founded, as this development paves the way for the seamless use of stablecoins like Circle’s USDC (USD Coin) for in-store payments, among other applications:
Tap to pay using USDC on iPhones incoming soon. Wallet devs, start your engines. https://t.co/D6lsj4saMS
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) August 14, 2024
Great News for Crypto Adoption
The benefits for the crypto community are substantial. First, this integration would significantly enhance the usability of cryptocurrencies, making it as easy to spend digital assets as it is to use traditional fiat currencies. This could drive broader adoption among consumers who might be hesitant to use cryptocurrencies due to perceived complexity or security concerns.
Moreover, the use of the Secure Element, a certified chip designed to store sensitive information securely, in conjunction with Apple’s existing security measures like the Secure Enclave and biometric authentication, ensures that these transactions are not only convenient but also highly secure. This level of security is crucial for gaining trust among users and merchants alike.
Apple’s new NFC and SE APIs could be a transformative development for the crypto industry, making it the most mainstream-friendly development since crypto debit cards with automatic swaps. Allaire’s call to action underscores the importance of this shift, encouraging developers to explore the possibilities that Apple’s new technology offers.
