The good news for Apple mobile users is that now they can use cryptocurrencies to avail services from Apple Pay.
It has been informed that the iOS digital wallet Lumi had been sent live now. This meant that the iOS system had now merged with the digital wallet. Resultantly, the Apple mobile users can now use Apple Pay to buy and sell digital assets/currencies.
The list of saleable and purchasable currencies had been published online and can be accessed by the general public. However, some of the digital currencies included are Bitcoin, Ethereum, Tether, Wrapped Bitcoin & Ethereum, USD Coin, and many more.
Furthermore, native coins offered by various exchanges too had been put for trade. Some of these native coins include Binance’s BUSD, Uniswap’s UNI, Chainlink’s LINK, Gemini’s Dollar etc.
For the time being the Apple Pay service had not be extended to other major crypto user countries. For instance, countries like Russia, China, Serbia, Romania, Ukraine, Malta, Vatican City etc. had not been included. It was told that the extended services to these countries and others will be made available in due course. However, no time limit had been provided as to when services outside the US will be initiated.
As regards the services in the US, it was informed that only the Apple mobile users from the US can access Lumi’s digital wallet. However, the trading had been restricted to certain amounts and transactions. For instance, a user would be entitled to carry out purchases of US$ 500 per day or per week, as the case may be. For further purchase, the user would need to wait for 24 hours or starting of the next day to reactivate the daily limit.
Similarly, the annual transaction limit had been restricted to US$ 5,000 only for US-based customers.
While the restrictions had also been imposed for users living in countries where the Lumi’s digital wallet is made accessible. The users there would be allowed to carry out purchases of a minimum of US$ 1,000 per day/week. Subsequently, the annual limit had been enhanced to US$ 7,500 for a single user.
Currently, Apple Pay has more than 383 million users across the globe and is of the biggest payment providers through mobile phones.