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Circle Announces Apple Pay Collaboration

Nov 16, 2022

Stablecoin Issuer Circle announces Apple Pay Collaboration

Stablecoin Issuer Circle announced in a Nov 15 blog post that Apple Pay has now enabled crypto payments for Merchants who accept payments in Circle's USDC stablecoin allowing crypto businesses to engage with non-crypto-using customers.


The Collaboration brings Apple Pay which is one of the most used digital wallets in the United States with over 1.8 billion active devices worldwide together with Circle's USD Coin, the second-most-popular stablecoin in the industry with a market value of more than $44 billion.


According to Circle, the collaboration with Apple Pay will increase inclusivity for crypto-native businesses as well as traditional businesses by allowing them “to shift more retail payments to digital currency.”


The additional merchant services have been designed in such a way that businesses will be able to reap the benefits of USDC while also allowing vendors to accept payments in cryptocurrencies such as Ethereum (ETH) and Bitcoin (BTC).



Circle's blog announcement stated that:


NFT marketplaces, crypto gaming, crypto exchanges, crypto wallets and cross-border remittance providers can help their business grow by making checkout easy with Apple Pay and Circle. The addition will help crypto-native businesses by making it easier to take payments, while not excluding customers that don’t use crypto. In addition, traditional businesses can also take advantage of this enhancement to shift more retail payments to digital currency.


Abhishek Sandhir, the Director of Product at Circle, said:


Apple Pay is also a safer and faster way to pay using the Safari browser and in apps because customers will no longer have to create an account or fill out lengthy forms.

Circle also recently announced the launch of 'EUROC' its fully regulated, 1:1 Pegged 'full-reserve model’ euro-backed stablecoin.

 

EUROC, Circle's latest venture joins a short list of euro-backed stablecoins including the Tether's EURt, Stasis EURS and e-money.com's existing suite of 100% Collateralised European Stablecoins (EEUR, ECHF, ENOK, ESEK, EDKK).


In June, Circle added support for Polygon USDC on its payments and treasury platform in a move that would help developers automate flows from fiat into Polygon USDC. Circle’s vice president of product, Joao Reginatto, envisages that the future will be a “multichain world”  and said that they would roll out its stablecoin across Polkadot, Optimism, Near Protocol, Arbitrum and Cosmos blockchains by the end of Q1 2023.


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