In 2014 Apple banned Cryptocurrency wallets from the App Store but later changed its decisions and possibly allows them now.
Based on Forbes reports, a job ad on the Apple website hints that the company may enable cryptocurrency payments soon.
A tech company advertised a job position for a “Bussiness Development Manager- Alternative Payments.” It requires the applicants to have experience with handling cryptocurrency.
The job description said, “The Apple Wallets, Payments, and Commerce (WPC) team is seeking an experienced Business Development Manager to lead Alternative Payments Partnerships. We are looking for a proven professional in global alternative and emerging payment solutions.”
“5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrencies, etc.” was one of the essential qualities necessary for the position.
Apple has taken a cautious approach to cryptocurrency. In 2014, the company banned cryptocurrency wallets from its App Store but subsequently changed its decision and now accepts them.
On the other hand, Apple prohibits cryptocurrency mining on iPhones and does not allow its Apple Card credit card to purchase cryptocurrencies.
According to a research study from RBC Capital Markets, Apple has a “clear opportunity” to offer a buying and selling mechanism for cryptocurrencies, a move that would allow the company to acquire market share instantly.
The report added when solving the problem that the users deal with when buying crypto assets because of the know-your-customer laws, Apple could use their world-class quality software and a safe ecosystem by offering a closed system that restricts malicious activity, increases the asset’s security, and they also had instant access to buyers and sellers.
It went on to say that if Apple, which already has a Wallet app, went down this road, the US would likely become a world leader in crypto assets, reducing the possibility of a government shutdown of the business.