?>

Is Apple Pay Planning to Integrate Bitcoin? Strike CEO Leaves Clues

2.9 k views
Is Apple Pay Planning to Integrate Bitcoin Strike CEO Leaves Clues

Apple reportedly plans to reduce its reliance on outside financial companies by building out new services in-house. Apparently, one of the developing services is related to payment processing technology.

Could this technology involve the Bitcoin network? Recent behavior from Jack Mallers – CEO of Strike – hints that his company may play a role.

Apple’s New Services

As reported by Bloomberg, insiders say that Apple’s effort is focused on new products rather than current ones. They include everything from payment processing, to risk assessment, to fraud analysis, to credit checks.

The services would build on Apple’s existing lineup, which already includes Apple-branded credit cards and peer-to-peer payments. The company is even working on a subscription service for its hardware, and a “buy now, pay later” feature for Apple Pay.

Internally, a section of the project received the nickname “breakout”, suggesting a departure from the current financial system. However, a company representative refused to comment on these plans.

Revolutionary financial technology today is often associated with crypto, by both industry leaders and the federal government. It wouldn’t be outlandish to see Apple adopt this technology, which now generates $70 billion per year from Apple pay.

It wouldn’t be unprecedented either. CashApp has already integrated Bitcoin purchases and lightning network payments into its app. Meta also attempted to launch a global stablecoin project and wallet, though it ultimately fell through.

So far, Apple is yet to make any significant forays into adopting crypto. However, its newly revealed “tap to pay” service includes support for crypto payment. Examples include Coinbase Card and Crypto.com Visa card, which individuals can load with crypto and use to shop at any vendor.

Apple CEO Tim Cook has also stated that he personally owns some Bitcoin and Ethereum. Still, he harboured no plans to add the assets to Apple’s balance sheet at the time.

Where Does Strike Come In?

Strike is a company exclusively focusing on Bitcoin payment technology. It is famous for utilizing the lightning network to enable cheap cross-border remittance payments. It also offers a service letting users receive their salary in Bitcoin.

In the context of recent tweets, it’s possible that the company may be getting involved with Apple. CEO Jack Mallers has posted numerous tweets containing references to the company.

On March 24th, Mallers posted a picture of himself flipping the bird to Chase Bank. He wore a hat that read “Apple” in the picture, while implying Bitcoin as a more inclusive alternative to Chase.

Then, on Monday, he shared the 1997 Apple commercial “The Crazy Ones”, which praised the “crazy, “ creative innovators throughout history.

Finally, on Wednesday, the CEO published a clip of Steve Jobs praising Apple’s brand, while stressing its need for vitality. This was part of a thread about building a better monetary network on Bitcoin.

Investors Inundate Zap's Mallers After El Salvador Bitcoin Push - Bloomberg
Jack Mallers. Source: Bloomberg

Jack Mallers’ Secret Meetings

Though Apple is the world’s largest company, to suggest that they have an interest in Strike wouldn’t be inconceivable. Mallers revealed last month that he’s already had meetings with executives of Google and Facebook about Bitcoin.

His arguments appear to have been convincing as well. During the dinner, he specifically told the Facebook executives that they were “doing it wrong” with their Diem stablecoin. It was only a week later that they dropped the project, after three years of working on it.

The next day, he met with an anonymous higher-up at Capital Group who “actively manages a trillion dollars” within the company. He explained to him why Bitcoin removes much of the “muck” involved with legacy financial system payments. He later gave a speech to the International Monetary Fund on the same topic, which the organization appreciated.

This is deeply related to Apple’s current problem of relying on various other financial companies for its services. For example, the Apple Card currently relies on Goldman Sachs for services like lending, credit checks, and managing payment histories.

The CEO also claimed to have had conversations with Jack Dorsey and Jeff Bezos, though he kept the details private.

Should Strike ever make the details of one of these major, private conversations public, it could come next week. He has a revealing segment scheduled on Thursday, April 7th at the Bitcoin Conference 2022, the largest Bitcoin meetup ever. 

Bitcoin coin symbol
Btc
Bitcoin
$62.547
price
red chart
decrease symbol0.84959%
price change
TRADE NOW

At last year’s conference, Mallers infamously announced that El Salvador had made Bitcoin legal tender alongside Nayib Bukele.

Previous

Opera Browser Integrates Solana, Polygon and Others for Users

Next

Washington Signs Blockchain Work Group Bill into Law

Written by

476 posts

Andrew is a content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013 but began diligently studying blockchain technology and its economic implications in 2017.

VIEW AUTHOR

More author posts

Sam Bankman-Fried May Now Contact FTX Employees — But There’s a Catch

Lawyers for FTX’s disgraced former boss, Sam Bankman-Fried (SBF), have reached an agreement with prosecutors allowing him to contact certain FTX employees. Besides certain restrictions, the 30-year-old may contact such parties through a host of new mediums. The New Rules Updated terms surrounding Bankman-Fried’s contact restrictions were sent to Lewis A. Kaplan – a judge for the Southern District of New York – in a letter on Monday.  Bankman-Fried’s lawyers said the updated conditions were a response to the government…

Uniswap Centralized? A16z Flexes Voting Power to Crush Governance Proposal 

The popular decentralized exchange, Uniswap, is having one of its latest governance proposals stonewalled by the crypto venture capital giant Andreesen Horowitz (a16z).  The ongoing proposal vote, which ends on February 10, is currently 38% weighed against the change – almost entirely due to the software investor. So Much for Decentralization The proposal, tabled by 0xPlasma Labs on February 2, would have Uniswap v3 deployed to BNB chain. To enable the deployment, the proposal chose to use Wormhole – an…

Silvergate Bank Hit With Fraud Probe Over FTX-Alameda Relationship

Crypto bank Silvergate is under investigation by the US Justice Department’s fraud unit for its dealings with FTX and its sister trading arm, Alameda Research.  The investigation is reviewing accounts concerning both businesses, which have been widely accused of engaging in a multi-billion dollar fraud using FTX customer funds.  What Happened at Silvergate? As reported by Bloomberg on Thursday, the La Jolla, California-based bank hasn’t been accused of any wrongdoing, and investigations could end without any charges being laid. However,…

Bitcoin Should be Banned in the United States: Charlie Munger

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

Oxford Student Jailed After Stealing $2.4 Million Through Crypto Scam

Wybo Wiersma – a 40-year-old Oxford University graduate – has been sentenced to four and a half years in prison after scamming over $2 million in crypto from unsuspecting victims. Following his arrest in 2019, the Netherlands extradited the Dutchman back to the United Kingdom (UK) in 2021. Following a five-year investigation by the South East Regional Organised Crime Unit (SEROCU), he pled guilty on January 26 to the Oxford Crown Court.  A Five-Year Investigation As reported by the Daily…

Like FTX, Celsius Used QuickBooks to Handle its Accounting

An independent examiner has revealed shocking details surrounding the inner workings of Celsius – a crypto lender that filed for bankruptcy in July 2022. The examiner claimed that Celsius did not operate by the business model that it presented to customers. He likened it to a Ponzi scheme, much like FTX – a company that happened to have used the same accounting software: QuickBooks.  The Truth About CEL Token Per a filing from examiner Shoba Pillay on Tuesday, Celsius had…

Publish your own article

Guest post article. Guaranteed publishing with just a few clicks

START PUBLISHING ADVERTISE WITH US

Browse categories

Explore trending topics in the crypto community right now.

Bitcoin

SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets

The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…

Bitcoin Should be Banned in the United States: Charlie Munger

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

Tesla’s BTC Positions Remained Unchanged in Q4 of 2022

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…

Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

MORE ARTICLES

Ethereum

Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live

At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…

Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears

Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system.  However, since the Beacon launch…

FTX Hacker Converts 50k Stolen ETH to BTC

Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%.  https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…

Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant

According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US  Treasury Department. Indeed, the OFAC administers and enforces US  financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash.  According to…

MORE ARTICLES

Trading

How to Leverage Arbitrage Opportunities in Crypto Markets

Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit.  Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…

The Different Types of Copy Trading in Crypto

Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…

How to Spot an Unsafe Crypto Exchange

Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable.  With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange.  The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…

What Is Grid Trading in Crypto?

Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…

MORE ARTICLES

Tech

Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity

The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…

Bit2Me Champions WEMIX Token in Pioneering European Listing

Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…

CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades

In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing  CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…

Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management

The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…

MORE ARTICLES