Key Takeaway:
- Apple opens its iPhone payment chip to third-party developers for broader crypto use on tap-to-pay functions.
- European Commission’s antitrust investigation leads to Apple allowing access to NFC technology.
- Potential impact on crypto adoption and competitiveness among blockchain platforms like Solana and Ethereum.
Apple’s NFC Technology Access
Apple announced that it will allow developers, including those in the crypto industry, to access its NFC chip for in-store payments, transit fares, and other crypto uses, following regulatory pressure.
Implications for Crypto Platforms
The move could affect blockchain platforms like Solana and Ethereum’s Layer 2 solutions, enhancing low-cost, high-speed transactions and the competition for mainstream technology integration.
Broader Adoption of Cryptocurrencies
The opened access to Apple’s NFC technology may lead to increased adoption of cryptocurrencies for everyday payments, particularly on platforms offering efficiency, minimal fees, and rapid transaction finality like Solana and Ethereum’s Layer 2 solutions.
