Apple’s recent decision to allow third-party developers in the European Union (EU) and other select regions access iPhone NFC technology could significantly benefit the crypto industry.
Apple plans to implement a new feature in the upcoming iOS 18.1 beta build to extend NFC capabilities previously exclusive to Apple Pay and Apple Wallet to external applications. This expansion could significantly enhance contactless payment options for crypto transactions.
Circle Co-Founder and CEO Jeremy Allaire has responded positively to this development, encouraging wallet developers to integrate Apple’s NFC payments technology. This integration could facilitate tap-to-pay functionality for Web3 and other crypto wallet services, marking a significant step forward for the sector. Circle, known for issuing the USDC stablecoin, sees this as an opportunity to expand the usability of cryptocurrencies in everyday transactions.
Allaire highlighted the potential for a user experience where an iOS wallet supporting USDC could initiate transactions via a simple tap, enhancing the point-of-sale process. This could allow a transaction to be communicated to an iPhone about which blockchain address to send USDC or the amount due, followed by user confirmation via FaceID and the transaction executed over the blockchain.
This development comes as Apple faces criticism and legal challenges regarding its App Store policies, particularly from crypto-related app developers. A California appeals court deemed previous restrictions on integrating third-party payment methods’ unlawful’.
As Apple plans to extend NFC and SE API access to developers in additional regions such as Australia, Brazil, Canada, Japan, New Zealand, the UK, and the US, the crypto community watches closely to see if crypto-related apps will also gain NFC functionality in the new update.
