Stablecoin Issuer Circle Adds Apple Pay
Circle, the company behind the US dollar-pegged stablecoin USDC, has added support for Apple Pay to integrate cryptocurrencies and established payment methods.
The company announced the news in a blog post published on 15 November that stated merchants who accept USDC can now do so with the help of Apple Pay.
The addition will benefit crypto-native businesses by making it easier to accept payments while not excluding non-crypto customers. Furthermore, Circle stated that "traditional" businesses could use the enhancement to "shift more retail payments to digital currency".
According to reports, Apple Pay is the second most popular digital wallet in the United States, behind PayPal, with more than 1.8 billion active devices worldwide.
Issuer of stablecoin Circle adds Apple Pay
Circle and Apple's collaboration will benefit cryptocurrency-native businesses that were initially only concerned with digital assets.
This step will assist them in utilising Apple Pay's payment platform. It will also function as a payment gateway for fiat users interested in experimenting with cryptocurrency payments.
The issuer of stablecoin Circle stated that enabling this new feature is a quick and easy process with no hassle. Merchants who meet the criteria can open a free Circle account and be added to an Apple developer account.
Circle's similar initiatives
Circle has taken similar initiatives to provide its customers with more payment options.
In June, issuer of stablecoin Circle added support for Polygon USDC to its payments and treasury platform, allowing developers to automate flows from fiat into Polygon USDC and swap it for native USDC across various blockchain networks.
At Converge22 in September 2022, the company announced plans to launch USDC on five new networks by the end of Q1 2023.
They announced that additional merchant services would enable vendors to accept cryptocurrency payments such as Ethereum (ETH) and Bitcoin (BTC). Other features to reduce checkout friction and improve the overall payment experience are also planned.
The issuer of stablecoin Circle also hinted that there could be future improvements.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.