Binance Co-CEO Richard Teng expressed curiosity on Tuesday regarding speculation that Apple Inc. (NASDAQ: AAPL) plans to add stablecoin support to its Apple Pay system. Teng posted on X, asking, "Stablecoins on billions of devices?" alongside a wide-eyed emoji.
The speculation stems from a job listing posted by Apple on August 26. The listing, which sought "stablecoin expertise" for the Apple Pay team, did not explicitly mention cryptocurrency, blockchain infrastructure, or stablecoins in the job description itself. The role involves partnering with the Apple Card and Apple Cash teams to shape long-term strategy and support business planning across wallets, payments, and commerce opportunities.
Mike MacCana, a software developer for Solana, echoed the observation that the application did not mention stablecoins. Apple did not immediately return a request for comment from Benzinga.
Currently, Apple Pay does not natively support stablecoins, such as USDC, for direct consumer spending. However, users can utilize stablecoins indirectly through third-party cryptocurrency debit cards and payment networks like Mesh. Apple’s former CEO Tim Cook stated in 2021 that the company does not invest in cryptocurrency because consumers do not buy AAPL stock for cryptocurrency exposure, though he admitted to personally owning cryptocurrency.
Regarding the company's stock performance, Apple shares rose 0.03% in after-hours trading on Tuesday. The stock closed 0.23% higher at $339.75 during regular trading. Year to date, the stock has rallied nearly 25%.
