Apple to accept Cryptocurrency for ‘Alternative Payments’

Apple to accept Cryptocurrency for ‘Alternative Payments’

BUSINESS | May 28, 2021 | WOZINGA NEWS

Apple to accept Cryptocurrency for ‘Alternative Payments’

  • Apple has advertised a position for a Business Development Manager – Alternative Payments.
  • The job posting has raised the interest of crypto supporters.

By Marielle Petere Wozinga Journalist

Apple to accept Cryptocurrency for ‘Alternative Payments’

The job listing has raised the interesting possibility that the company will soon support cryptocurrency payments.

Apple has advertised a position for a “Business Development Manager – Alternative Payments.” This requires candidates to have prior experience with cryptocurrency. The new hire would be joining the team in charge of Apple Pay and the iPhone Wallet app.

Key Qualifications

According to the ad, the required qualifications include several years of experience in cryptocurrency. Also, other rapidly growing forms of payment such as “buy now, pay later” services.

The potential hire comes as the company quietly prepares to support bitcoin payments through its Wallet app. The iPhone’s central repository for digital cards, tickets, and vouchers.

Coinbase, one of the largest cryptocurrency exchanges, has an App Store listing. It now means that it supports Apple Wallet. The Coinbase website states that the company “does not currently support Apple Pay. But we hope to bring a faster and safer way to spend cryptocurrency to iOS users soon.”

Clear Opportunity for Apple

Crypto supporters quickly took on the job posting as a good sign. Silicon Valley’s most valuable company was preparing a deeper move into payments via bitcoin and other cryptocurrencies, according to Financial Times.

According to an analyst at RBC Capital Markets, the company has a clear opportunity in crypto. Making it easier and secure for people to buy and sell digital assets. The company has a long history of accepting payments via Apple Pay and its own-branded card.

Jennifer Baily, the head of Apple Pay, stated two years ago that the iPhone maker was keeping an eye on cryptocurrency. Baily was quoted as saying at a CNN event, “We think it has interesting long-term potential.”

If Apple fully embraces cryptocurrencies, it will provide the market with its strongest endorsement to date. The support will increase the demand for cryptocurrencies.

Apple's support will increase the demand for cryptocurrencies. Do you agree?

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