#CryptoFees101
Big Techs would consider adopting stablecoins as the debate over the GENIUS Act continues
The market capitalization of stablecoins has increased by 90% since January 4, 2024, making stablecoins the first mainstream use case for cryptocurrencies.
The growing push for the regulation of stablecoins in the United States is supposedly prompting major tech firms like Apple, X, and Airbnb to explore the integration of digital tokens.
According to a note from June 6 by Fortune, at least four tech companies, including Apple, X, Airbnb, and Google, are exploring stablecoins as a means to reduce fees and improve cross-border payments. Each company is at a different stage of implementation, with Google perhaps being the most advanced, having already facilitated two payments with stablecoins.
Payment infrastructure companies are playing a role. For example, Airbnb has been talking with Worldpay about using stablecoins, looking to reduce fees from credit card processors like Visa and Mastercard.
The social platform X has been in discussions with cryptocurrency companies about the integration of stablecoins into its X Money application, according to the report. Elon Musk has previously stated that he wants to expand the reach of X to allow users to send and receive money. The company has already obtained money transmission licenses across the United States.
Stablecoins have become one of the most popular use cases for cryptocurrencies. The market capitalization of such assets has increased to $249.3 billion from $131.3 billion since January 2024, a jump of 90%.
