Leaked information that Apple will enter the cryptocurrency field

According to a vacancy posted by Apple a few hours ago, the Cupertino giant is looking for the position of Business Development Manager for alternative payments:

While details are scarce at the moment, the vacancy mentioned hints at the fact that Apple may be looking for a partnership in the crypto space. With the massive rise of cryptocurrencies this year, it makes sense for the iPhone maker to tap into this growing economic trend by expanding the reach of Apple Pay - its mobile payment service and Apple digital wallet – for cryptocurrencies by forming partnerships with crypto exchanges.

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Of course, as mentioned earlier, Apple is not the first Fortune 500 company to make a big splash in this area. In early 2021, Tesla decided to accept Bitcoin for car payments. However, Elon Musk's love affair with Bitcoin came to an abrupt end in May when he announced the suspension of operations citing Bitcoin's skyrocketing consumption and its impact on the environment.

Along with that, China's recent Bitcoin mining ban also impacted the crypto sector, as Bitcoin recorded a loss of more than 50% from its all-time high.

However, the situation seems to have stabilized again. Against this backdrop, this latest move by Apple could go a long way in revitalizing the cryptocurrency.

Jessica Tanner

Update 27 May 2021