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Sujit Kumar
Aug 16, 2024
by Sujit Kumar

Circle to Launch USDC 'Tap-and-Go' Payments on iPhones

Circle to Launch USDC
Circle, the fintech company behind the popular stablecoin USDC, is set to launch a revolutionary payment feature on iPhones, enabling 'tap-and-go' transactions. This announcement was made by Circle's CEO, Jeremy Allaire, who revealed that this initiative will harness Apple's recently granted access to its NFC chip and Secure Element technology for third-party developers.

Seamless Blockchain Transactions

This integration represents a significant advancement in payment systems, allowing point-of-sale systems to interact directly with iPhone wallets through blockchain addresses. According to Allaire, this innovation will facilitate seamless USDC payments to merchants, authenticated using Apple's biometric features like FaceID. The development marks a new era in the digital payment landscape, extending the use of blockchain technology in everyday transactions.

Broader Applications Beyond USDC

Beyond USDC, Allaire noted that Apple's decision to open its NFC technology to developers has far-reaching implications. It opens the door for innovations, such as using iPhones for NFT ticketing and managing other stablecoins like EURC. However, this third-party access is currently limited to specific countries, including the United States, the United Kingdom, Canada, Australia, Japan, Brazil, and New Zealand, with the European Union notably excluded from this initial rollout.

USDC's Role in the Crypto Space

USDC remains a significant player in the cryptocurrency market, ranking as the second-largest stablecoin after Tether's USDT. Despite USDT's larger market cap of $116.4 billion compared to USDC's $34.5 billion, USDC is a vital component of the decentralized finance (DeFi) sector. It supports 77 blockchain networks, slightly edging out USDT, which supports 76.

This new development could further enhance USDC's position by integrating it into the daily lives of users through the convenience of 'tap-and-go' payments, potentially increasing its adoption and influence in the digital currency space.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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USDC Circle to Launch USDC tap and go iphones
Circle to Launch USDC 'Tap-and-Go' Payments on iPhones
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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