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Crypto Stablecoin Issuer Circle Released Facilitating Features For Apple Pay

By Irene L. | November 16, 2022

Circle, the issuer of the US dollar-pegged stablecoin USD Coin, reportedly rolled out facilitating features for Apple Pay – planning for bringing the crypto and traditional payment systems closer together.

Specifically, Circle reportedly issued the official announcement via a Nov. 15 blog post, suggesting it has the potential of amping up sales for crypto-native establishments, since they are able to support traditional payments from non-crypto-using customers while making it possible for buyers to “buy crypto with Apple Pay on their preferred exchange.”

Per Circle, the inclusion of Apple Pay support will be beneficial to traditional businesses, via enabling them “to shift more retail payments to digital currency.”

Apple Pay is reportedly rolled out to “eligible businesses” and claims enabling it is “a simple process”, meanwhile clients who checkout with Apple Pay at entities that take part in the initiative will finalize the transaction, as usual, using Apple’s Face ID or Touch ID.

Apple reportedly possesses more than 1.8 billion active devices throughout the globe, as revealed by Apple’s CEO Tim Cook in a Q1 2022 earnings call. 

Apple Pay is reportedly among the top used digital wallets in America, joining PayPal in the list, per reports.

USDC has the second largest market cap within the stablecoin market, surpassed only by Tether, which in the wake of the FTX crisis induced fear in investors following its slight depegging from the USD.

Circle’s vice president of product Joao Reginatto additionally claimed that they have visions for the future to function as a “multichain world” soon after Circle’s announcement on Sept. 28 that they would introduce its stablecoin on Polkadot, Optimism (OP), Near Protocol, Arbitrum, and Cosmos blockchains.

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