(Reuters) – Apple Inc. has a “clear opportunity” to offer a mechanism for buying and selling cryptocurrencies, a move that would allow the company to immediately gain market share, according to a research report conducted Monday by RBC Capital Markets.
With its access to world-class software and a secure ecosystem, Apple could address the problem facing people who acquire cryptographic assets due to its customers ’knowledge laws and other regulations, as the company offers a closed system that prevents harmful activity, improves asset security, and has instant access to buyers and sellers, according to the report.
He added that if Apple, which already has a Wallet app, followed this path, the move would likely make the United States a world leader in cryptographic assets, diminishing the possibility of a government shutdown of the industry.
“If the United States owns the majority of cryptographic assets (either Bitcoin or other assets), it would make no logical sense to ban it,” RBC analysts said in the report.
The report came on the same day that the highest bitcoin cryptocurrency approached widespread acceptance after billionaire electric vehicle company Elon Musk, Tesla Inc., revealed that it had bought $ 1.5 billion in bitcoins and that he would soon accept it as a form of payment for cars. shooting higher.
Apple has proceeded with caution with cryptocurrencies. The company banned cryptocurrency wallets from its App Store in 2014, but later reversed the decision and now allows them. However, Apple prohibits the exploitation of cryptocurrencies on iPhones and does not allow your Apple Card credit card to be used to purchase cryptocurrencies.
Report by Karen Pierog in Chicago; Additional reports from Stephen Nellis in San Francisco; Editing by Alden Bentley and Matthew Lewis