The increasing momentum for regulating stablecoins in the United States is pushing major tech companies like Apple, X, and Airbnb to explore integrating digital tokens.
According to a report by Fortune magazine on June 6, at least four tech companies, including Apple, X, Airbnb, and Google, are exploring stablecoins as a way to reduce fees and improve cross-border payments. Each company is at a different stage of implementation, with Google possibly being the furthest ahead, having already facilitated two stablecoin payments.
Payment infrastructure companies are playing a role in this regard. For example, Airbnb is negotiating with Worldpay about using stablecoins, aiming to reduce fees imposed on credit card payment processors like Visa and Mastercard.
The report indicates that the social media platform X is negotiating with cryptocurrency companies about integrating stablecoins into its X Money app. Elon Musk previously stated that he wants to expand X to allow users to send and receive money. The company has already sought licenses to transfer money across the United States.
A Google spokesperson told Cointelegraph that the company "focuses on meeting customer demand for effective and available payments around the clock," and that it "is evaluating stablecoins that allow us to provide that in a safe and sound manner." The tech giant is also helping its clients explore stablecoins by providing its own ledger technology.
Stablecoins have become one of the most common uses for cryptocurrencies. The market value of these assets has risen to $249.3 billion from $131.3 billion since January 2024, an increase of 90%.