While it’s largely known that many established enterprises from Goldman Sachs to JPMorgan are looking into blockchain and cryptocurrencies, Apple is doing the same, though they haven’t talked about it much.
The Vice President of Apple Pay, Jennifer Bailey, said the following:
“We’re watching cryptocurrency. We think it’s interesting. We think it has interesting long-term potential.”
Of course, it’s not surprising that an executive of a payment solutions company is looking into digital assets, Bitcoin trading, and the like. It would be irresponsible not to.
It’s similar to Facebook’s Libra asset that’s supposed to release in 2020. As a stablecoin, Libra represents Facebook’s foray into payments and financial technology. Essentially, if the launch goes well, the social media giant will have its own platform for users to trade digital assets as if they were dollars.
While Libra brought a ton of exposure to cryptocurrencies, Apple doing so would be “a major shot in the arm for crypto,” claims a Wedbush Securities analyst, Dan Ives, to CNN Business.
“Given where Apple strategically is focused, a move into crypto could make sense given its sights on further monetizing its consumers over the coming years,” says Ives.