Apple plans to enable third-party apps to be installed on iOS as a response to the EU’s impending regulation, and crypto and NFT apps could benefit as a result.
According to sources cited by Bloomberg, Apple plans to allow external apps to be installed on iPhones and iPads. This comes as a response to the EU’s regulation. Technology companies are required by the Digital Markets Act to comply with its restrictions by 2024.
Initially, Apple plans to allow external apps to be installed on its products in Europe, in order to comply with the regulation. However, if other countries and regions decide to adopt similar laws, Apple might want to expand this functionality.
It seems that the tech giant plans to roll out the new feature along with the launch of its iOS 17 update. The latter is due to happen during the fall of 2023. Currently, crypto and NFT apps are limited by Apple’s app store requirements.
However, with the new functionality, NFT and crypto apps could be installed from external sources and bypass those requirements. Right now, NFT purchases on the iOS are subject to a 30% fee. Currently, iOS users of marketplace apps such as OpenSea can only browse for NFTs and not buy or sell them.