Altcoin News: Apple and Goldman Sachs Will Prohibit Customers from Using Their Card to Buy Cryptocurrency

August 5, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Owners of the acclaimed Apple Card, developed by the eponymous technology corporation together with the investment bank Goldman Sachs, will officially not be able to use it to buy cryptocurrency, The Block writes.

In anticipation of the launch of the card scheduled for the current month, Goldman Sachs published an Apple Card customer agreement on its website. According to the document, users are not allowed to use the card to receive cash loans and cash equivalents, along with “any cash advance and other cash-like transaction.”

According to the presented rules, to the acquisition of fiat equivalents, Goldman Sachs equates “travelers checks, foreign currency, or cryptocurrency; money orders; peer to peer transfers, wire transfers or similar cash-like transactions.”

In early 2018, Apple banned mining applications from the App Store. This year it also became known that the company can use the blockchain in logistics chains.

Goldman Sachs CEO David Solomon at the end of June confirmed interest in the underlying technology cryptocurrency.

“Suppose that all the major financial institutions in the world are looking at the potential of tokenization, stablecoins and calculations that are not burdened with unnecessary difficulties,” he said then.

Author: Marko Vidrih