#BigTechStablecoin
Big tech companies like Apple, Google, Airbnb, and X (formerly Twitter) are exploring stablecoin payments to reduce transaction costs and improve cross-border settlement efficiency. Here's what's happening¹ ²:
- *Companies Involved*: Apple, Google, Airbnb, X, Uber, and Stripe are in talks with crypto firms to integrate stablecoins into their platforms.
- *Stablecoin Options*: Companies are weighing compliance risks across stablecoin issuers like Tether (USDT) and Circle's USDC. Google Cloud has already accepted stablecoin payments using PayPal's PYUSD.
- *Regulatory Landscape*: The Trump administration's pro-crypto approach has shifted regulatory sentiment, encouraging big tech firms to explore stablecoins. The GENIUS Act aims to regulate stablecoins, but its passage is uncertain.
- *Potential Benefits*: Stablecoins could reduce transaction costs, improve settlement efficiency, and provide a more efficient way to handle cross-border payments.
- *Current Status*: While talks are ongoing, no official announcements have been made, and theStreet has not verified these claims personally.
Some notable developments include³:
- *GENIUS Act Update*: Proposed amendments aim to ban non-financial companies like Meta, Amazon, and Google from issuing or holding stablecoins, maintaining banking-commerce separation and enhancing transparency.
- *Stripe's Acquisition*: Stripe acquired Bridge, a stablecoin infrastructure startup, to enable businesses to implement stablecoin payments quickly and securely.
These developments indicate a growing interest in stablecoins among big tech firms, driven by potential cost savings and efficiency gains. However, regulatory uncertainty and compliance risks remain key challenges.
