This week, Fortune reported that Apple, X (Elon Musk), Airbnb, and Google have held preliminary discussions with cryptocurrency companies to integrate stablecoins into their payment systems.
Stablecoin: Shaping the future of digital payments
Stablecoins are emerging as one of the breakthrough applications of blockchain. In 2024, startups in the stablecoin space raised over $1.5 billion, an 80% increase from the previous year. With instant transaction capabilities and low costs, stablecoins have the potential to completely transform the cross-border payments sector – a field worth trillions of USD annually.
Tech giants are getting involved
#Apple : Held closed-door meetings with Circle to discuss the possibility of integrating USDC into Apple Pay – a platform that has processed over $2 trillion in payments.
#X (Elon Musk): Reviving interest in crypto, discussing a stablecoin payment system for X Money with Stripe.
#GoogleCloud : Has accepted payments in PYUSD from customers this month.
#AirBnB : Has been working with Worldpay since January to integrate stablecoins like USDC and USDT – a solution that could help the company save billions of USD in transaction fees each year.
Momentum from policy
The government #TRUMP has signed an executive order requiring federal agencies to develop a regulatory framework friendly to digital asset innovation. The GENIUS bill currently under consideration by the U.S. Congress will establish clear regulations on capital, reserves, and audits for stablecoins – paving the way for the official participation of tech companies.
Barriers and challenges
Despite the great potential, the giants still face some obstacles:
Tether (USDT) holds 60% of the stablecoin market share but is under strict compliance oversight.
Circle ($USDC ) has just gone public but is still struggling with ownership structure.
PayPal's PYUSD is still struggling to find its footing despite backing from Paxos.
Some companies are considering issuing their own stablecoins, but this may be restricted if new legislation is passed.
👉 Summary: The interest of tech giants like Apple, X, Google, and Airbnb in stablecoins marks a significant turning point in bringing blockchain into everyday financial life. This could be the 'iPhone moment' of the crypto industry – when a new technology truly steps out of the confines of the investment community and into the hands of billions of global users.
