Crypto Payments Wallet News: Banking giants, including Wall Street biggies Wells Fargo, Bank of America and JPMorgan Chase are preparing to launch a new payments wallet. The wallet is seen as the banks introducing a wallet that could rival Apple Pay and PayPal. Although a definite timeline is yet to be finalized, reports suggest that the product could be released towards the end of 2023. Although there is no mention of enabling crypto payments through the wallet, drawing a comparison to Apple Pay does not rule away the possibility.
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Big Banks Collaborate
According to a Wall Street Journal report, the big banks are working together to allow their customers pay using the wallet which in turn is linked to the debit and credit cards. Thanks to the huge network of users between the banks, the wallet could potentially attract a massive usage.
Apple Pay’s Crypto Payments Foray
In early 2022, Apple said it was working on allowing Apply Pay users to transact with cryptocurrencies. Among other payments service providers, the phone manufacturer said it would allow third party crypto payments wallets to integrate into the service.