Apple Vice President Announces The Company’s “Long-Term” Interest In Crypto

Apple-Announces-Long-Term-Interest-In-Crypto

More and more corporations join the cryptocurrency race, as we’ve discussed here on Top10CryptoBots.

Vice President of Apple online stores, Jennifer Bailey, revealed that her company is watching cryptocurrencies closely while speaking in San Francisco in a private event stating crypto tokens have “interesting long term potential”.

This might be a new exciting opportunity for crypto enthusiasts both on exchanges and platforms like Bitcoin Loophole.

The company is observing the how, the what, and the when of digital currencies and have taken an interest as Bailey told CNN during the event. She addressed the new class of assets as a topic of interest in future discussions of digital payments and Apple’s take in the sector.

Bailey’s statement may be made in context to the Apple Card released in August, it is a credit card created by Apple in collaboration with Goldman Sachs and Mastercard.

Although her talk was short, it provided a quick glance at how Apple is planning to approach bitcoin and the bigger crypto market with an open mind.

The market capitalization of Apple is over 5 times bigger than that of bitcoin which is at $188 billion. Apple’s sudden interest in crypto tracks the path of a similar largely covered news declared by Facebook, with the announcement of its cryptocurrency Libra in June.

Although Apple doesn’t report the number of ApplePay users, they claim around a billion transactions get processed by the service per month. Baily also claims the store acceptance of digital payments grew to 70% from 3% in the US after the product’s launch in 2014.

As reported by Cointeleraph at the start of August, according to the agreement of Apple Card Customer, users are not permitted to buy cryptocurrencies with the use of Apple’s credit card service.

However, if Apple does decide to pursue its crypto dreams with launching a wallet for iPhone, it isn’t going to be the first phone company that manufactures to the market. This week, Samsung already launched a paywall, a blockchain-enabled smartphone.

A ‘secure enclave’ in HTC’s Exodus 1 also comes pre-packaged to store crypto holdings separately from other apps of the phone. Samsung’s device is basically Galaxy Note 10 with crypto-cobranding created in collaboration with a South Korean blockchain program, Klaytn. Apple’s credit card is stored in the Apple Pay wallet of the user’s iPhone.