An Apple executive last week confirmed the company is interested in cryptocurrency, a revelation that came months after the company launched its CryptoKit for iOS 13.

While still speculative, Apple"s CryptoKit is likely the first step in enabling the exchange of private and public keys that could allow users to make purchases with  bitcoin and other cryptocurrencies stored on an iPhone.

Apple would be only the latest in a flurry of financial services, ecommerce and social media giants establishing stable coin technology or cryptocurrency backed by traditional fiat money. Those companies include JP Morgan Chase, Visa and Facebook, which unveiled its Libra Coin and Calibra digital wallet earlier this year.

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