Circle, the company behind the USDC stablecoin, has announced plans to introduce a tap-and-go payment feature for iPhones. This follows Apple’s recent decision to allow third-party developers access to its NFC (Near Field Communication) technology.
Details of Circle's Announcement
Jeremy Allaire, Circle’s CEO, confirmed this development in a post on August 14, stating, “Tap to pay using USDC on iPhones incoming soon. Wallet devs, start your engines.”
Updates from Apple
Apple’s announcement on the same day revealed that it will open its NFC chip and Secure Element (SE) for use by external app developers. This significant change will enable crypto developers to integrate blockchain payment functionalities directly into their applications, competing with Apple Pay, which has been the primary payment option on iPhones.
Capabilities of the New Feature
The new functionality would allow point-of-sale systems to communicate directly with iPhone wallets, enabling users to confirm transactions using biometric authentication like FaceID. This streamlined process could facilitate direct USDC payments to merchants, enhancing the usability of cryptocurrencies in everyday transactions. In addition to USDC, the updated NFC capabilities will also support various digital assets, including NFTs and other stablecoins like EURC. Apple’s new APIs will be available to developers in several countries, including the United States, Canada, and the UK, but notably, the European Union has not been mentioned in this rollout.
As the crypto community anticipates this innovation, Circle’s initiative is seen as a pivotal step towards broader cryptocurrency adoption, simplifying the payment process and making it more accessible to users.
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