Jennifer Bailey, the vice president of Apple’s payments service, Apple (NASDAQ:) Pay, said that the company was watching cryptocurrencies closely as they believe it has long-term potential. The company claims that Apple pay processes about one billion transactions every month. With such a wide reach, Apple’s move to crypto, similar to Facebook (NASDAQ:), will be a huge positive as it will attract a large number of retail and institutional investors alike.
It is not only large organizations that are taking the crypto plunge. The second largest economy in the world has also made it clear that it wants to launch its digital currency backed by its central bank. Mu Changchun — deputy director of the People’s Bank of China payments department — recently said that China’s digital currency will be similar to Facebook’s Libra and will be supported across major e-payments platforms in the nation.
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