Breaking: Apple Now Enters Crypto – Possible Wallet Implementation into iPhones

Apple, at its annual Worldwide Developers Conference (WWDC) on June 5, will unveil CryptoKit, a release that accompanies the new iOS 13.

The framework, which allows developers to “perform cryptographic operations securely and efficiently”, has raised speculation that Apple may offer in-built support for cryptocurrencies with its new iPhone. It made a quiet first public appearance on Apple’s website. Frederic Jacobs, who is a part of Apple’s CoreOS security team, said that more details would be unveiled soon,

CryptoKit will let developers use public-key cryptography to create and evaluate digital signatures, to perform key exchange, and use private keys stored in and managed by Secure Enclave, the latter being a separate processor that Apple uses to handle sensitive information.

Founder of TrustWallet, Viktor Radchenko, said that this was a step towards iPhones becoming hardware wallets,

The introduction of native support for digital assets would be a logical move for Apple, given that competitor Samsung has already done so for its flagship Galaxy S10 smartphone, the increase of blockchain smartphones, and the growing acceptance of crypto for retail payments, including being able to pay at Whole Foods and Starbucks.