#BigTechStablecoin

Key Developments:

1. Tech Giants' Initiatives

Google Cloud is leading with live transactions using PayPal's PYUSD.

Apple is in early talks with Circle $USDC to enhance Apple Pay .

X (Twitter) is developing X Money and negotiating with Stripe for stable-coin integration .

Airbnb aims to reduce credit card fees via Worldpay partnership .

Meta and Uber are in exploratory phases for global payments .

2. Regulatory Shifts:

The GENIUS Act (U.S. stablecoin bill) is advancing, potentially banning Big Tech from issuing proprietary stablecoins .

Global divergence: Hong Kong passed a stable-coin law; the U.K. treats them as "investment instruments"; the E.U. simplifies crypto-service rules .

3. Market Growth:

Stable-coin market cap surged 90% since Jan. 2024 to $250B, with on-chain volume hitting $1.42T in May 2025 .

Partnerships accelerated (e.g., Stripe acquired Bridgefor $1.1B) .

4.Key Challenges:

Privacy concerns: Ex-regulators warn against Big Tech's "unprecedented surveillance" power .

Stable-coin selection: Uncertainty around USDT (compliance) and USDC (IPO volatility) .

Outlook:

Regulatory clarity (GENIUS Act) and tech adoption will shape 2025–2026 growth, but issuer restrictions and technical hurdles persist.