#AppleCryptoUpdate Apple and cryptocurrencies: between institutional caution and forced openness.
Apple has long adopted a cautious approach to cryptocurrencies as a company, although recent developments, partly forced by court decisions, are beginning to change this landscape.
Historically, Apple's official position has been not to directly integrate cryptocurrencies into its business operations, not to accept them as a means of payment for its products or services, and not to hold them on its financial balance sheet. This position has been reiterated by CEO Tim Cook, although he has personally revealed owning Bitcoin as part of a diversified investment portfolio.
However, the Apple ecosystem is not completely closed to cryptocurrencies. The App Store has allowed the existence of cryptocurrency-related applications, including wallets, exchange platforms, and market information apps. This tolerance has enabled Apple device users to access the cryptocurrency market through third-party applications.
More recently, a court decision significantly impacts the relationship between Apple and cryptocurrencies on the App Store. This ruling requires Apple to allow app developers to offer external payment options to Apple's in-app purchase system, including for transactions involving cryptocurrencies and NFTs (non-fungible tokens). This means that apps will be able to direct users to crypto-based payment systems without Apple taking its usual 30% commission. This opening, although constrained, could potentially promote greater adoption of cryptocurrency payments within iOS applications.
Regarding Apple Pay, it is currently possible to buy cryptocurrencies on certain exchange platforms or third-party services that have integrated Apple Pay as a payment method. In this scenario, Apple Pay facilitates the transaction using a linked bank card, but Apple Pay itself does not directly manage cryptocurrencies and does not function as a cryptocurrency wallet for storing or spending digital assets.
Beyond cryptocurrencies themselves, there are signs that developers at Apple are exploring blockchain technology for other potential applications, such as improving supply chain management or data security.
Rumors and speculation have circulated about the possibility that Apple may develop its own cryptocurrency or a native cryptocurrency wallet in the future. However, to date, Apple has made no official announcement confirming such projects, and the company maintains a wait-and-see position in the face of the volatility and regulatory evolution of the cryptocurrency market.
In summary, Apple's position regarding cryptocurrencies is characterized by institutional caution, limited openness through the App Store for third-party applications, indirect facilitation of crypto purchases via Apple Pay on certain platforms, potential exploration of blockchain technology in other areas, and a recent legal obligation to open its payment ecosystem to external options including crypto. The future of Apple's direct involvement in the cryptocurrency space remains uncertain.
It is likely to depend on market evolution, regulation, and the company's long-term strategy.
