#BigTechStablecoin Big Techs consider adopting stablecoins while the debate over the GENIUS Act continues.

The market capitalization of stablecoins has increased 90% since January 4, 2024, making stablecoins possibly the first mainstream use case for cryptocurrencies.

The growing push for stablecoin regulation in the United States is leading major technology companies like Apple, X, and Airbnb to explore the integration of digital tokens.

According to a report from Fortune published on June 6, at least four technology companies — including Apple, X, Airbnb, and Google — are evaluating the use of stablecoins as a way to reduce fees and improve international payments. Each company is at a different stage of implementation, with Google possibly being the most advanced, having already facilitated two payments with stablecoins.

Payment infrastructure companies are involved in the process. For example, Airbnb has been in discussions with Worldpay about the use of stablecoins, seeking to reduce fees charged by credit card payment processors like Visa and Mastercard.

According to the report, the social platform X has been in talks with cryptocurrency companies about integrating stablecoins into its X Money app. Elon Musk has previously stated that he wants to expand X's capabilities to allow users to send and receive money. The company has already applied for money transmitter licenses in several U.S. states.

A Google spokesperson told Cointelegraph that the company "is focused on meeting customer demand for efficient, 24/7 payments and is evaluating stablecoins that allow us to offer this in a safe and reliable manner." The tech giant is also helping its clients explore stablecoins through its ledger technology.

Stablecoins have become one of the most popular use cases for cryptocurrencies.

Article by Christopher Tepedino - Cointelegraph