September 5, 2019Blog Posts

Apple sees ‘long-term potential’ for cryptocurrency but isn’t focused on it today

CNBC

Apple has become a big player in mobile payments since releasing Apple Pay for the iPhone in 2014 and moving deeper into the market with last month’s launch of Apple Card in partnership with Goldman Sachs.

Jennifer Bailey, vice president at Apple Pay, said the company is “watching” cryptocurrencies, though consumers shouldn’t expect anything soon.

“We think it’s interesting,” Bailey said in an interview last week at a private CNN event in San Francisco, according to a transcript reviewed by CNBC. “We think it has interesting long-term potential, but we’re primarily focused on what consumers are using today.”

Apple doesn’t allow cryptocurrency miners in its App Store platform, although wallets and exchanges like Coinbase are permitted, and the Apple Card can’t be used to purchase cryptocurrencies.

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