Cryptocurrency Has 'Long-Term Potential,' Says Apple Exec

Apple is "watching cryptocurrency," according to an executive at the tech giant.

Apple Pay vice president Jennifer Bailey, talking to CNN at a private event in San Francisco, said "We think it's interesting. We think it has interesting long-term potential."

Bailey did not elucidate about the possible uses of the technology Apple might pursue. She had been taking about the future of payments at the CNN event.

With Facebook planning to launch its Libra stablecoin next year, it would be surprising indeed if Apple were not watching crypto. But, Bailey's comments may come as confirmation that more might be going behind the scenes at Apple's Cupertino HQ.

In February, Apple submitted a filing with the Securities and Exchange Commission (SEC) that contained rare details about the computing giant’s interest in blockchain tech.

The document indicated that Apple was involved in the drafting of “Blockchain Guidelines” for the Responsible Business Alliance’s Responsible Minerals Initiative and had been working with the RBA's blockchain team.

Elsewhere in the CNN report, Bailey said that in launching Apple Pay, the firm has made it harder for users to tip. The firm is looking at the problem, she indicated.

The exec also explained why the company had recently suggested users of the new Apple Card should keep it away from other credit cards, as well as leather and denim. "We want it always to look perfect," she said.

Apple image via Shutterstock