🔹 Big Tech Involvement in Stablecoins
1. Meta (formerly Facebook) – Diem (formerly Libra)
Announcement: 2019
Goal: Global digital currency backed by a basket of currencies.
Consortium: Libra Association (included companies like Visa, Mastercard, Uber)
Rebranded: Libra → Diem
Shut down: 2022 due to intense regulatory pressure.
Assets sold: To Silvergate Bank
Amazon, Google, Apple
No official stablecoins yet, but:
Apple supports Apple Pay via regulated banks
Google partners with fintech firms for payments
Amazon has digital credits but not a blockchain token.
🔹 Potential Future Players
Stripe, Square (Block Inc.), or Microsoft could enter, especially if CBDCs or Web3 adoption grows.
Telegram launched TON but not a stablecoin per se.
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🔹 Challenges for Big Tech Stablecoins
1. Regulatory scrutiny (especially regarding monetary policy, AML/KYC)
2. Data privacy concerns
3. Systemic financial risks (e.g., replacing national currencies)
4. Public trust in private money issuance
