#BigTechStablecoin
đŚ Big Tech's Foray into Stablecoins
Meta (formerly Facebook):
After shelving its Diem project, Meta is reportedly revisiting stablecoin integration. Discussions are underway to incorporate stablecoins like USDC and USDT for international creator payouts on platforms such as Instagram. This move aims to facilitate low-fee, cross-border transactions.
coindesk.com
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atlas21.com
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coindesk.com
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bankrate.com
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gadgets360.com
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atlas21.com
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PayPal:
PayPal introduced its own stablecoin, PayPal USD (PYUSD), in 2023. Backed 1:1 by U.S. dollars and issued by Paxos Trust Company, PYUSD is integrated into PayPal's ecosystem, allowing users to transact seamlessly within its platform.
bankrate.com
Visa & Mastercard:
Both payment giants are embracing stablecoins. Visa has invested in stablecoin startup BVNK, signaling its commitment to the sector. Mastercard has developed infrastructure enabling real-time stablecoin transactions, partnering with platforms like OKX and Nuvei to facilitate seamless payments.
atlas21.com
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stablecoininsider.com
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en.wikipedia.org
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atlas21.com
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cointelegraph.com
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đ Market Dynamics & Regulatory Landscape
Circle's IPO:
Circle, the issuer of USD Coin (USDC), recently went public on the NYSE under the ticker CRCL. The stock surged nearly 170% on its debut, reflecting strong investor confidence in the stablecoin market.
investopedia.com
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investors.com
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barrons.com
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marketwatch.com
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ft.com
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barrons.com
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Regulatory Scrutiny:
As big tech companies delve deeper into stablecoins, regulatory bodies are paying close attention. U.S. Senator Elizabeth Warren has advocated for legislation to prevent large tech firms from issuing their own stablecoins, citing concerns over financial stability and market dominance.
coindesk.com
