#BigTechStablecoin
In a notable development, recent reports have revealed that Meta has begun exploring the possibility of supporting stablecoins such as USDT and USDC within its platforms like Facebook and WhatsApp, reflecting a renewed interest in a project that has long faced regulatory challenges in the past.
Concurrently, the market is witnessing significant legislative movement as the GENIUS Act has been introduced in the U.S. Congress, establishing strict legal foundations for the issuance of stablecoins, which include a 1:1 financial reserve and direct oversight from the Treasury Department.
On another note, the market capitalization of stablecoins has surpassed $231 billion, and experts predict it could reach $2 trillion by 2028 with the possible entry of major institutions like Visa and Bank of America.
