Head of Apple Pay Says Cryptocurrency ‘Has Interesting Long-Term Potential’

Siamak Masnavi
  • 5 Sep 2019

In a recent interview with CNN, Jennifer Bailey, Apple's Vice President of Internet Services (which covers Apple Pay), commented on Apple's thoughts on cryptocurrency.

Although the interview with CNN's Chief Business Correspondent Christine Romans at CNN Business' live event "The Table" in San Francisco was mainly about mobile payments, Bailey did say that Apple is paying attention to crypto:

We're watching cryptocurrency. We think it's interesting. We think it has interesting long-term potential, but we’re primarily focused on what consumers are using today.

This was probably the first time that Apple has publicly talked about crypto.

Dan Ives, an analyst at Wedbush Securities, told CNN Business:

This would be a major shot in the arm for crypto if Apple headed down this path. Given where Apple strategically is focused, a move into crypto could make sense given its sights on further monetizing its consumers over the coming years.

Although Apple does not allow cryptocurrency miners in its mobile App Store, wallets and other types of crypto apps are allowed. 

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