As soon as reports of Apple allowing third-party apps to make NFC transactions came out, Circle (USDC) CEO Jeremy Allaire set X on fire. The report about NFC, or near-field communication, the short-range wireless technology behind Apple Pay and Wallet, will be added in the upcoming iOS update.
Jeremy Allaire’s Wants USDC in the NFC Action
Circle, the stablecoin pegged to the U.S. Dollar, is a prominent crypto used for regular transactions among various crypto users. Jeremy Allaire wants to capitalize on the third-party app’s newfound ability to make NFC transactions to allow Circle users to transact easily with merchants and peers.
Tap to pay using USDC on iPhones incoming soon. Wallet devs, start your engines. https://t.co/D6lsj4saMS
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) August 14, 2024
The European Commission has investigated Apple’s exclusive access to the iPhone’s NFC capabilities for years to limit competition in the mobile payments industry. This prompted Apple to eventually give up its tap-and-go technology to third-party vendors in the region.
According to the statement, Apple will first make its new NFC and Secure Element APIs available to developers in Australia, Brazil, Canada, Japan, New Zealand, the United Kingdom, and the United States, with more countries to follow. The APIs will be accessible with the release of iOS 18.1. The global acceptance will lay the base for a wider USDC adaption in countries where crypto adoption is on the rise.
Jeremy Allaire also discusses further opportunities that can arise with the acceptance of third-party developers benefitting from the NFC updates.
Lots of chatter and questions about my tweet. A bit more clarity so that people don’t make this into something it is not.
Why is tap to pay using USDC on iPhones incoming soon, and what does it mean for Wallet devs to get going?
– Circle has no relationship with Apple and this… https://t.co/IZfLbIsWGp
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) August 14, 2024
While clarifying his statement about using USDC with Apple’s NFC, Allaire also touches on multiple aspects of blockchain technology that can benefit from the update. He mentions the ease of buying NFTs and tickets, along with multiple other use cases in real-world situations.
Also Read: Chinese Police Uncover $1M USDT Money Laundering Scheme
