Apple Inc. has taken a significant step towards mainstream cryptocurrency adoption by enabling crypto payments through its Apple Pay service.
The development comes as Bitcoin, the leading cryptocurrency, experienced a notable price drop, adding intrigue to the crypto market’s dynamics.
Apple’s Crypto Payment Integration
Apple has integrated Bitcoin and other cryptocurrencies into its payment ecosystem, allowing users to transact directly from their iPhones using the “Tap to Pay” feature.
The functionality, initially rolled out to select merchants, signifies Apple’s commitment to embracing digital currencies, potentially setting a new standard for mobile payments.
Bitcoin price drops
Despite the positive news from Apple, Bitcoin’s price fell to around $57,900, influenced by broader market sentiments and specific concerns like the potential release of Bitcoin from the Mt. Gox bankruptcy, alongside significant USDT outflows.