USDC Stablecoin Issuer Circle Introduces Support For Apple Pay

USDC Stablecoin Issuer Circle Introduces Support For Apple Pay
  • Apple Pay is the second most popular digital wallet in the United States.
  • Circle claims that conventional stores would profit from Apple Pay integration.

Circle, the issuer of the USDC stablecoin pegged to the US dollar, has introduced support for Apple Pay in an effort to bring the crypto and conventional payment systems closer together.

In a blog post published on November 15th, Circle made the news and projected that it may increase sales for crypto-native companies by allowing users to “buy crypto using Apple Pay on their preferred exchange.” Circle claims that conventional stores would profit from Apple Pay integration because it will enable them “to shift more retail payments to digital currency.”

More Options For Consumers

Apple states that setting up Apple Pay for a company is a straightforward procedure and that consumers who use Apple Pay at stores that accept the payment method may use either Face ID or Touch ID to complete their purchases.

Apple CEO Tim Cook said in the company’s Q1 2022 earnings call that the company had over 1.8 billion active devices throughout the globe. Reports show that Apple Pay is the second most popular digital wallet in the United States, just behind PayPal.

After Tether USDT, USDC is the most valuable stablecoin in terms of market capitalization. However, investors were scared off by Tether’s modest depeg from the USD in the aftermath of the FTX collapse.

On September 28 Circle announced that it would roll out its stablecoin across Polkadot (DOT), Optimism (OP), Near Protocol (NEAR), Arbitrum, and Cosmos (ATOM) blockchains. As the damage from the collapse of one of the world’s top crypto exchanges extends across the sector, Tether and Circle have both denied having any exposure to FTX and Alameda.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.