In watchOS 2, there are no more shared keychains.
If I want to send a keychain value from the iOS app to the Watch app, is it safe to send it via WCSession updateApplicationContext?
Response from Apple:
The app’s content is encrypted during transit. Otherwise the content is stored in the app’s container which provides the inherent security of containers.
Here is a link to the Security White Paper. https://www.apple.com/business/docs/iOS_Security_Guide.pdf
For the in-transit part, you should take a look at the “Apple Watch” section under "App Security". For the pertinent part of container security, you should take a look at the “File Data Protection” section under "Encryption and Data Protection”.