Ornella Hernandez

Apple Inc. reportedly plans to allow alternative app stores on its iPhones and iPads next year in response to looming regulatory changes in the European Union. 



The move, <a href="https://www.bloomberg.com/news/articles/2022-12-13/will-apple-allow-users-to-install-third-party-app-stores-sideload-in-europe" target="_blank" rel="noreferrer noopener">reported</a> by Bloomberg, would let iOS users download third-party software to their devices, bypassing Apple’s up-to-30% commission on in-app purchases — a policy that also affected NFT-related apps.



In September, the tech giant <a href="https://blockworks.co/news/apple-allows-nft-sales-on-its-app-store-but-theres-a-catch" target="_blank" rel="noreferrer noopener">enabled developers of current apps to sell non-fungible tokens in-app</a> and new apps to trade NFTs within them. 



Those developers who made over $1 million annually through the ‌App Store‌ were subject to Apple taking a 30% cut, while developers making less than that paide 15%. Additionally, Apple made it so that NFT-related transactions on an iPhone or iPad could only be made in US dollars and not cryptocurrency.



In less than a month, Apple ended up <a href="https://blockworks.co/news/apple-takes-bite-out-of-app-store-nfts-in-hunt-for-revenue" target="_blank" rel="noreferrer noopener">backtracking on its Web3 policy and restricting content and functions</a> associated with license keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets. NFT-related functions in-app, such as sales, mints, listings or transfers are still allowed.



The new shift for Apple to support external apps from third-party marketplaces may benefit Web3 developers and expand the use of NFT-related applications and mobile crypto payments.&nbsp;



Apple would be complying with Europe Union’s (EU) Digital Markets Act (DMA), an antitrust legislation approved by the EU parliament in July. While the new law takes effect in early 2023, companies aren’t required to fully comply until 2024.&nbsp;



The company still has to decide whether to allow third-party developers to use their own payments infrastructure or make them use Apple’s payments setup, per Bloomberg.



Once in effect, the policy change would likely be featured in Apple’s iOS 17 software update, scheduled for next fall.



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Apple to Add Flexibility for App Developers, Including in Web3

Sebastian Sinclair

<div id="highlights-block_62392567a347d" class="highlights">
 <ul>
 <li>CBA&#8217;s managing director of blockchain and digital assets said feedback over the ability to buy crypto via the Commbank app had been &#8220;overwhelmingly positive&#8221;</li>
 <li>Ten cryptoassets are currently available for purchase on the bank&#8217;s app, including bitcoin and ether</li>
 </ul>
 
</div>



Australia&#8217;s largest bank by total assets has experienced a significant uptake of crypto activity on its app since it first allowed users to buy and sell digital assets last year.



Speaking on the first day of Blockchain Australia’s five-day Blockchain Week conference in Sydney, Commbank&#8217;s Sophie Gilder, managing director of Blockchain and Digital Assets, said the response to the bank&#8217;s app had been &#8220;overwhelmingly positive.&#8221;



The reception of its app follows Commbank&#8217;s 2019 issuance of <a href="https://www.commbank.com.au/guidance/newsroom/world-bank-and-cba-blockchain-bond-201905.html#:~:text=The%20International%20Bank%20for%20Reconstruction,recorded%20using%20distributed%20ledger%20technologies." target="_blank" rel="noreferrer noopener">blockchain bonds</a> via secondary market trading and marks a significant step in the country toward user adoption of the underlying technology.



Gilder, along with several other representatives from Macquarie, Visa and JPMorgan, said business decisions around crypto products were being driven largely by consumers in a &#8220;rapidly evolving&#8221; environment.



<blockquote class="wp-block-quote">&#8220;About 900,000 of our customers have transferred money to crypto exchanges over the last two years,&#8221; Gilder said. &#8220;One in three Australians have a banking relationship with CBA. So we see this activity happening, our customers are already there, already in this space. You can say it&#8217;s already mainstream based on our stats.&#8221;</blockquote>



Gilder also said that while the feedback had been generally positive, the bank app&#8217;s biggest complaint came from customers who had not yet been let into the pilot.



CBA announced back in November it would be launching its crypto <a href="https://www.commbank.com.au/articles/newsroom/2021/11/CBA-to-offer-crypto-services.html" target="_blank" rel="noreferrer noopener">pilot program</a>, granting select customers the ability to buy, sell and hold digital assets directly through the bank&#8217;s CommBank app. After launching in December, the bank became the first of its kind in Australia to offer crypto products directly to its customers.



To assist in the app&#8217;s design and custody service, crypto exchange Gemini and blockchain analysis firm Chainalysis were brought in. Ten cryptoassets are currently available for purchase, including bitcoin and ether.



Chainalysis&#8217; suite of tools allows the bank to &#8220;analyze exactly what&#8217;s happening on the blockchain,&#8221; Gilder said. &#8220;Five years ago, you may not have had that level of confidence.&#8221;



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