Circle, the firm behind USDC, has announced that retailers that accept the currency will soon be able to take Apple Pay. Customers will be able to check out through applications and the Safari browser without having to “complete out long paperwork.”
JUST IN: Circle $USDC adds support for Apple Pay.
— Watcher.Guru (@WatcherGuru) November 15, 2022
According to Circle’s statement on Tuesday, Apple Pay integration would allow crypto-native companies to help better clients who want to utilize conventional payment methods. With the connection, customers can also purchase cryptocurrency straight using Apple Pay.
Traditional companies may also use this upgrade to transfer more retail payments to digital currency and reap the advantages of USDC settlement, as per Circle.
According to Circle’s most recent attestation report on the condition of its reserves, the USDC is entirely backed by cash and US treasuries.
This enables the stablecoin’s price always to follow the value of $1.
Stablecoins, like USDC, have increased in popularity as a way of sending currency across the globe through crypto rails without the need for middlemen or erroneous remittance fees. Businesses may use Circle to enable Apple Pay by establishing a Circle Account and an Apple developer account.
Circle said that in the future, it would add new payment ways to assist in eliminating payment friction at checkout. Circle, like Tether, said last Wednesday that it has no exposure to the defunct cryptocurrency exchange FTX.