- Apple opens NFC technology to third-party developers, enabling USDC Tap-to-Pay.
- Circle CEO confirms imminent launch, initially in selected countries.
The future of contactless payments could soon reach a new dimension: USDC, the leading stablecoin from Circle, could soon be available for tap-to-pay payments on the iPhone. This groundbreaking development is made possible by Apple’s decision to open its NFC (Near Field Communication) technology to third-party apps.
Opening the NFC Interface: A Turning Point for Mobile Payments
Until now, the use of the NFC interface has been limited to Apple’s own Wallet and Apple Pay. With the upcoming iOS update 18.1, this will fundamentally change. Developers will have the opportunity to implement secure in-app NFC transactions. Users can then select their preferred payment app and access it by simply double-clicking the side button on their iPhone.
This opens up new possibilities not only for traditional payment providers but also for the world of cryptocurrencies and especially for stablecoins like USDC. Stablecoins are digital assets pegged to the value of a fiat currency, in this case, the US dollar. They offer the stability of traditional currencies while also providing the benefits of blockchain technology, such as fast and inexpensive transactions.
USDC: The Stablecoin That Could Revolutionize Payments
USDC is one of the most well-known and trusted stablecoins on the market. It is 100% backed by highly liquid US dollar cash and cash-equivalent assets and can be redeemed at any time at a 1:1 ratio for US dollars. The reserves are managed by reputable financial institutions like BlackRock, providing additional security.
The integration of USDC into the iPhone’s NFC technology could pave the way for widespread adoption of stablecoins in everyday payments. Users could then use their USDC holdings directly for purchases in stores, restaurants, or other places where contactless payments are accepted.
Outlook: A New Era for Mobile Payments
Apple’s opening of the NFC interface and the potential integration of USDC are a strong signal for the growing importance of cryptocurrencies and blockchain technology in the financial sector. It is expected that other providers of crypto wallets and payment services will follow suit, leading to further diversification and innovation in the field of mobile payments.
It remains to be seen exactly when the USDC tap-to-pay feature will be available on the iPhone and in which countries it will initially be launched. However, the announcement by Circle CEO Jeremy Allaire suggests that the launch is imminent. It is quite possible that in the near future, we will be using our iPhones to pay with stablecoins like USDC just as easily and conveniently as with traditional debit or credit cards.
The post USDC on the iPhone: Contactless Payments with Stablecoins Coming Soon appeared first on ETHNews.
