Although the release of Apple Card – a joint venture with investment firm Goldman Sachs – implied a disinterest in the future of cryptocurrency, recent remarks by project leads state otherwise.
In a conversation with CNN’s chief business correspondent, Apple Pay vice president Jennifer Bailey voiced the project’s collective opinions on the crypto industry:
We’re watching cryptocurrency. We think it’s interesting. We think it has interesting long-term potential.
This declaration is not unfounded, however. With Facebook’s recent announcement of Libra and plenty of others companies such as HTC embracing crypto – either through blockchain-embracing products or through their own assets – a declaration of interest by Apple is strategic, at the very least. As crypto continues to become a hot topic for silicon valley companies, to not reach out to the crypto community would be a poor choice for a company looking for the appeal of the tech-savvy market.
As previously reported by this writer, the Apple Card terms and conditions included a clause prohibiting the purchase of crypto with the credit card. This leaves a discrepancy between the statements by the project vice president and the released product.
The decision to exclude crypto may not be a malevolent move on Apple’s part. The clause was part of a larger policy against any cash advances with the card, including other methods of purchasing currency with the card.
How Many Grains of Salt?
Despite the inconsistency between Apple Card’s bark and bite, the statement could indeed be signalling a change in Apple’s approach to the crypto industry. However, there’s nothing to look forward to just yet.
With no actions as of yet to back up the statements, the possibility remains that the remarks were solely an attempt to get the crypto community back onside. Only time will tell whether Apple makes a legitimate move to embrace crypto, or if these comments will remain hot air.