Usdc Tap-To-Pay Debut – What Apple’s Latest Upgrade Means For Stablecoin

Circle introduces tap-to-pay on iPhones

Stablecoins have gone mainstream as they continue to buck market trends. Amid the growth in stablecoin supply and market cap, USDC has become the favorite among regulated stablecoins. Therefore, to keep up with market demands and new opportunities, Circle will integrate tap-to-pay with USDC. Circle CEO Jeremy Allaire announced the company’s latest venture by saying,

“Tap-to-pay with USDC on iPhones is coming soon. Wallet developers, start your engines.”

The CEO explained that if an iOS wallet that supports USDC enables this, they could enable a UX where a receiving device (like a point-of-sale or other iOS device) could receive the transaction information via tap.

He added:

“This way, a PoS could tell an iPhone on which blockchain address it accepts USDC or what amount to pay. Then, the iPhone-based wallet app could prompt the user to confirm a payment (like with FaceID) and initiate a transaction on the blockchain to settle the USDC.”

Greater demand for USDC as a regulated stablecoin

The jump in market share is due to the drop to $23 billion in 2023 following the collapse of SVB.

Apple NFC chip to third-party providers

This is not only true for a stablecoin but also for various other Web3 platforms and projects. Such projects include NFTs, certificates and stablecoins like EURC.

What this means for Circle’s USDC

This shows an increased demand for USDC to purchase other cryptocurrencies. Simply put, it indicates greater use of USDC by crypto investors.