Jennifer Bailey, the vice president of Apple Pay, said that Apple was keeping an eye on digital currencies. In an interview with CNN, Bailey said that the company thought cryptocurrencies “were interesting” and that they had “long-term potential.”
Apple believes in the long-term potential of cryptocurrencies
With Facebook’s Libra being one of the most highly-covered topics in the media, other major tech companies have kept mostly silent on the issue of cryptocurrencies. Knowing that even the mention of digital assets is enough to spark a heated debate, it’s safe to say that the choice to keep it low is a smart one.
Apple, however, broke its silence, with a senior exec sharing the company’s stance of the ever-increasing asset class.
Jennifer Bailey, the vice president of Apple Pay, said that, while the company won’t be making any decisions on the subject yet, it was keeping a close eye on the sector.
In an interview with CNN‘s chief business correspondent Christine Romans, Bailey discussed cryptocurrencies as part of the wider discussion about the future of payment. She said:
“We’re watching cryptocurrency. We think it’s interesting. We think it has interesting long-term potential.”
While the company’s foray into cryptocurrencies is still hypothetical, some experts believe it could be the stimulus the crypto industry needs. Dan Ives, an analyst at Wedbush Securities, told CNN Business that Apple heading down the path of crypto would be a “major shot in the arm” for the industry. He explained:
“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.”
Not everyone wants to let Apple dip its fingers into crypto
Exploring cryptocurrencies comes as a natural step forward for Apple,