Jeremy Allaire, the CEO of Circle, has sparked excitement on X by hinting that USDC stablecoin will soon enable a tap-to-pay facility on iPhones. The development will be made possible because Apple has unlocked its NFC chip for third-party app developers, marking a significant shift in mobile payments.
Before, only Apple Wallet and Apple Pay could use the NFC chip in the iPhone. Now, Web3 and crypto wallet developers can integrate NFC functionality into their apps, allowing users to make tap-to-pay transactions using USDC.
This means that iPhone users could soon be using their devices to make USDC transactions through PoS terminals or even between two iPhones, with the transaction details being transmitted through NFC securely.
Allaire clarified that Circle is not affiliated with Apple in any way and this new feature is not related to Apple Pay. Rather, it is about providing developers with the possibility to build unique payment solutions.
Using NFC in crypto wallets, developers are able to design a system where users can authenticate transactions with Face ID and complete payments on the blockchain.
This development is not limited to USDC alone but has ramifications for other cryptocurrencies as well. It could be used in NFTs, other stablecoins, and different certificates, expanding the potential of mobile payments and digital assets exchange.
Allaire also encouraged wallet developers to begin integrating with Apple’s latest iOS SDKs so their apps are ready for this new feature. He also pointed out that PoS hardware and software companies should also integrate their systems to accept these NFC-based payments and facilitate USDC settlements.
When this feature is launched, it is likely to transform the perception of mobile payments, particularly in the context of cryptocurrencies.
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