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Circle CEO Says iPhone Users Will Soon Be Able to Use USDC For Payments
- Apple’s iOS 18.1 update enhances NFC capabilities, allowing developers to integrate USDC and other crypto transactions directly within apps.
- The update is not a partnership between Apple and Circle but an opening of NFC technology to third-party developers for broader payment options.
- This change supports not only USDC but also transactions involving NFTs, various tickets, certificates, and other stablecoins like EURC.
Jeremy Allaire, co-founder and CEO of Circle, the company behind the second largest stablecoin by market cap, USDC, has just announced an exciting development for all Apple iPhone users. According to Allaire, iPhone users will soon be able to pay with USDC via their phones.
The development comes after an announcement by Apple earlier, but does not relate to crypto specifically. It also doesn’t mean Apple is endorsing crypto.
In a statement, the Cupertino, California-based company wrote that it is expanding NFC capabilities in iOS 18.1, allowing developers to integrate diverse contactless uses directly in apps, beyond just Apple Pay and Wallet. This includes transactions for in-store purchases, digital keys, IDs, and more.
This new solution was designed to provide developers with a secure way to offer NFC contactless transactions from within their iOS apps.
Apple Developers must meet Apple’s security standards and the feature will initially be available in select countries, including Australia, New Zealand, the United States, Canada, the United Kingdom, Japan and Brazil.
Circle CEO Explains Why USDC is Coming to iPhones
Allaire confirmed that this was neither a collaboration between Apple and Circle nor do the companies have a relationship. He reiterated that “Apple […] is opening up the use of the NFC chip to 3rd party app developers”.
He added that up until now only Apple Wallet and Apple Pay have been able to use NFC – with the move representing a step towards enabling crypto payments.
By opening up this capability to developers, other Wallet apps, for example, Web3 Wallets and Crypto Wallets will be able to invoke NFC for transactions.
Jeremy Allaire, co-founder and CEO of Circle The CEO added that Apple’s integration of blockchain payment capabilities in iPhones will allow point-of-sale systems to specify blockchain addresses and payment amounts in USDC, enabling iPhone wallets to prompt user confirmation (e.g., via FaceID) and initiate blockchain transactions.
Combining this with high-performance and low-fee blockchain networks (most these days), this will open up a powerful pathway for direct to merchant USDC payments.
Jeremy Allaire, co-founder and CEO of Circle Additionally, this technology extends beyond USDC, supporting transactions for NFTs, tickets, other certificates, and various stablecoins like EURC, Allaire added.
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He closed his post by encouraging developers to use Apple’s latest tools to work on integration and “ready their apps for USDC Tap to Pay”.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
