Circle to Introduce Tap-and-Go USDC Payments on iPhones

by Giorgi Kostiuk

2 years ago

Made with AI

Announcement by Jeremy Allaire
Using Apple's Technology
Future of Crypto Payments

Circle's CEO Jeremy Allaire announced a new feature that will enable iPhone users to make USDC payments using tap-and-go technology.

Announcement by Jeremy Allaire

Jeremy Allaire revealed in a recent post on X that Circle is preparing to launch USDC payments on iPhone. Allaire explained that the new feature will enable fast, low-cost blockchain networks for direct-to-merchant USDC payments, especially for point-of-sale systems.

This would allow a point of sale to tell an iPhone what blockchain address it will accept USDC on, or the amount to pay, and then the iPhone-based wallet app could prompt the user to confirm a payment (like with FaceID) and initiate a transaction over the blockchain to settle the USDC.Jeremy Allaire

Using Apple's Technology

The new payment option is expected to use Apple's NFC chip and Secure Element, which were previously limited to Apple Wallet and Apple Pay. Allaire referenced a recent Bloomberg report which claims that Apple is opening up its payment technologies to allow third parties to offer their services natively on iPhones.

Future of Crypto Payments

Allaire also noted that the expanded NFC access could extend beyond USDC to applications such as NFTs, other stablecoins like EURC, and various digital certificates. This reflects the growing trend of payment firms adopting cryptocurrencies.

Circle's new feature demonstrates significant changes in the field of cryptocurrency and payment technologies, offering users more convenient and secure transaction options.

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