Recently, Apple has taken a revolutionary step with its iOS 18.1 update, allowing third-party developers to access the iPhone's NFC (Near Field Communication) chip. This move has opened new avenues in the world of cryptocurrency, as users will now be able to use 'tap to pay' from their crypto wallets through their iPhones.
This change comes after increasing pressure from the European Union on Apple, aimed at providing alternatives to Apple Pay and promoting competition in the market. Now developers, including those creating crypto wallets, can develop applications for in-store payments, transit fares, and other crypto uses using Apple's NFC chip.
This initiative is expected to increase the acceptance of cryptocurrencies in everyday life, as users will be able to make crypto payments as easily as traditional payments. For example, Circle's CEO Jeremy Allaire praised this development, stating that 'tap to pay with USDC on iOS is coming soon.'
Although Apple has granted access to the NFC chip, this facility will only be available to those developers who enter into commercial agreements with Apple and pay the relevant fees. Additionally, Apple has approved the Enjin Wallet for cryptocurrency exchange functionality, which is a significant step for NFT conversions.
All these changes indicate that Apple is now serious about incorporating cryptocurrencies into its products and services, which could significantly increase the popularity and use of cryptocurrencies.