#BigTechStablecoin
Big Tech's involvement in stablecoins is a highly debated topic, especially with the potential passage of the Stablecoin Act by August. One of the concerns is that Big Tech firms could expand into payments, giving them the power to "print their own money" or use consumer data to corner markets ¹.
There are different opinions on this matter. Some believe that Big Tech firms should not be precluded from economic activities due to hypothetical fears, as long as they comply with regulations. However, others argue that this could lead to unfair competition and potential risks to the financial system.
*Key Players and Their Stablecoin Initiatives:*
- _Ondo Finance_: Offers USDY, a tokenized note backed by short-term U.S. Treasury bonds and bank deposits.
- _Mountain Protocol_: Developed USDM, an ERC-20 rebase token backed by short-term U.S. Treasury bonds.