According to its latest customer agreement regarding the upcoming Apple card, customers will not be able to acquire crypto assets with the card. Apple has banned crypto-mining apps from the app store in the past, so this news comes with no surprise.
More About The Apple Card
The apple card will be available through the official wallet app. Customers will be able to use their phone as a card, however, they will also have an option to request for a titanium card. The card comes with no national or international fees what-so-ever. Users will benefit from a 2% cashback on every purchase and a 3% cashback from any Apple purchase.
Somehow I feel like Apple is cooking a blockchain cookie in their tech labs.
The Apple customer agreement I was talking about was posted two days ago (from the moment of writing this article) on Goldman Sachs’ website.
The agreement has put every digital asset in the category of Cash Equivalents, and therefore the purchase of such assets is banned. In other words, any transaction that involves cash is prohibited and it will end up declined.
There are other types of transactions that are also not accepted by the Apple card; transactions that involve the purchase of foreign currencies, lottery tickets and casino gambling chips (physical and digital), race-track wagers and any other type of gambling activity.