(Reuters) – Apple Inc. has a ‘clear opportunity’ to offer a buy-and-sell mechanism for cryptocurrencies, a move that will allow the company to gain market share immediately, according to a research report Monday from RBC Capital Markets.
With access to world-class software and a secure ecosystem, Apple can address the problem that individuals face in acquiring cryptocurrencies due to your customer’s laws and other regulations, with the company offering a closed system that prevent bad activities, improve asset security, and have immediate access to buyers and sellers, the report said.
It added that if Apple, which already has a Wallet app, were to move down this path, the move would likely make the United States a world leader in cryptocurrencies, raising the possibility of a government venture for the industry would decrease.
“If the US owns the most cryptocurrencies (whether it is Bitcoin or other assets), we do not think it is logical to ban it,” RBC analysts said in the report.
The report comes the same day that the best bitcoin bitcoin came closer to general acceptance, after billionaire Elon Musk’s electric vehicle company, Tesla Inc, revealed that he had bought $ 1.5 billion bitcoin and would soon accept it as’ a form of payment for cars – sending the cryptocurrency shoots higher.
Apple proceeded cautiously with cryptocurrencies. The company banned cryptocurrency wallets from its App Store in 2014, but later reversed the decision and now allowed it. However, Apple bans the mining of cryptocurrencies on iPhones and does not allow its Apple Card credit card to be used to buy cryptocurrencies.
Reporting by Karen Pierog in Chicago; Additional reporting by Stephen Nellis in San Francisco; Edited by Alden Bentley and Matthew Lewis