Apple restrains Apple Card features: crypto buying banned

Posted 05 August, 2019

Apple, which is currently developing its own credit card along with Goldman Sachs, one of the largest US financial institutions, said that their product could not be used to buy Bitcoin and other cryptocurrencies. The corresponding message appeared on the website of the investment bank.

The notice states that users of Apple Card will not be able to make bets in casinos, lotteries and racetracks, as well as receive loans in cash and their equivalents - traveler's checks, foreign currency and cryptocurrencies.

iPhone users will be able to issue a card through the application Wallet and receive Apple Card support as part of the operating system upgrade to iOS 12.4. Using the card, its owners will be able to return 1% of the purchase amount made using a physical card, 2% of the purchase amount made via Apple Pay, and 3% of purchases or services from Apple.

Note that Apple’s partner in creating a credit card, Goldman Sachs, is more loyal to digital currencies, and has previously announced the possibility of creating its own stable coin following the example of another investment giant, JPMorgan.

As previously reported, the release of the Apple Card will begin in the first half of August.

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06 August, 2019 10:24

← Data protection community concerned about Libra

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05 August, 2019 16:02

Busan becomes regulation-free zone in South Korea →

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Busan becomes regulation-free zone in South Korea
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