Apple Pay and Cryptocurrency Prospects

The Vice President of Apple Pay Development Jennifer Bailey stated this in an interview with CNN channel.

The top manager stressed that digital money is a promising and fast-growing direction, so Apple can not stay on the sidelines in this case.

According to Bailey, the company is cautiously monitoring cryptocurrencies, as they consider them a fascinating phenomenon with high potential for long-run development.

The top manager said that Apple analyzes how people use digital money, and why they like it. Besides, nowadays, even the largest companies would use digital assets. The freedom of choice given by cryptocurrencies proves the pressure from officials.

The company already has a sufficient base to introduce digital money into Apple's overall ecosystem. Bailey assured that cryptocurrencies are not what the company is now focused on.

Nevertheless, they are seriously studying the market, because it is quite new and many issues in this area are not yet regulated in the U.S. or other countries. The company is working on the possibility to purchase digital coins via Apple Pay and easy verification on cryptocurrency exchanges via mobile devices.

So far, Apple is conservative about the cryptocurrency market. Apple Card does not support the purchase of digital coins. And App Store prohibits the release of applications related to cryptocurrency mining, while access to digital wallets and crypto-exchanges is not limited.