Apple has entered into a partnership with foremost Bitcoin payment processor, BitPay, to enable users of its Apple Pay wallet to have access to make payments through Bitcoin and other cryptocurrencies. According to the announcement, holders of BitPay Mastercard would have access to this feature and the company has said it is eyeing Google and Samsung next.
This would be in-line with the advice offered to the tech giant by RBC Capital Market who told the firm to think of setting up its own crypto exchange. According to RBC, Apple would significantly increase its earnings if it goes through the crypto way.
And in what appears to be a swift move, the iPhone maker has kickstarted the process by partnering with BitPay on its new crypto journey. This new partnership would allow the tech company to properly gauge the demand for crypto among its customer base.
Presently, BitPay is the largest crypto payment processor in the world. The crypto company allows its users to send or receive crypto payments or fiat currency alternatively. Its card supports different digital currencies like Bitcoin Cash, Ether, and four dollar-pegged stablecoins, which includes the USDC, GUSD, PAX and BUSD. However, the prepaid Mastercard is currently available to only people in the United States.