Circle USDC Might Benefit from Apple's New Upgrade, CEO Jeremy Allaire Hints

Tech giant Apple has introduced a significant upgrade that could benefit Circle USDC. Jeremy Allaire, the CEO of the stablecoin issuer, hinted at the upgrade in an X post.

Tech company Apple has introduced a major upgrade that could benefit Circle USDC.

In an X post, Jeremy Allaire, CEO of the stablecoin issuer, hinted at the upgrade. He suggested that iOS users could use the stablecoin to pay for things on their iPhones, thanks to the latest development.

Apple Reach For NFC Contactless Transactions

According to Apple, its developers will enable Near Field Communication (NFC) contactless transactions on iOS 18.1.

This will directly affect in-store payments, including car keys, closed-loop transit, corporate badges, student IDs, home keys, hotel keys, merchant loyalty and rewards cards, and event tickets. Soon, government IDs are expected also to see support with this upgrade.

All that is required is the Secure Element within users’ apps on their iPhone, not the Apple Pay app or Apple Wallet. At the heart of this solution is the drive to provide security and privacy. Secure Element carries the capacity to securely store sensitive information in addition to Apple’s proprietary hardware and software technologies.

It is worth noting that the iPhone manufacturer made no mention of Circle USDC in its announcement. Even Allaire confirmed that his company has no business with the tech firm. However, he noted that the company is only opening up the use of the NFC chip to 3rd party app developers.

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