Apple Shows Interest in Entering the Cryptocurrency Market.
After Facebook has ventured into the cryptocurrency industry, Apple is also showing interest in perhaps creating its own cryptocurrency.
At a private event in the city of San Francisco, Apple Pay vice president Jennifer Bailey told CNN that the company has closely monitored the entire cryptocurrency movement and sees the industry as a good one. Investment for the future.
The comments were made during a lecture on the future of digital payments, something that Apple has shown a lot of interest for some time.
In addition to Apple Pay, which is a kind of digital wallet, the company launched in August Apple Card, the branded credit card that puts the company as a serious investor in the finance market.
According to Wedbush Securities analyst Dan Ives, Apple’s interest in the cryptocurrency market has everything to be real as it would allow the company to create new ways to monetize its consumers.
The investment would also be in line with the company’s current strategy of increasing its service revenues as a way to offset declining demand for iPhones.
Today, the service sector accounts for a third of Apple’s revenue, but that number tends to increase with the launch of initiatives, like Apple TV + and Apple Arcade – streaming premium series and cloud-hosted game services, respectively.
In addition to Facebook, another digital-related company that recently entered the world of cryptocurrency was Jack Dorsey’s (also CEO of Twitter ) financial solutions company Square, which launched its own bitcoin exchange in 2018.
In March of this year, Dorsey revealed that he was hiring engineers to create an entire cryptocurrency ecosystem within the company.