According to BlockBeats, the cryptocurrency industry has long sought a 'killer app' to propel blockchain into mainstream finance, and stablecoins may be the answer. Stablecoins are digital tokens pegged to fiat currencies like the U.S. dollar, and banks and fintech companies are rapidly adopting this technology. Now, major tech companies are also showing interest.
Sources indicate that Apple, X (formerly Twitter), Airbnb, and Google are in early discussions with crypto companies to explore stablecoin integration. These companies believe that adopting stablecoins could reduce transaction costs and enhance cross-border payment processes.
In addition to Apple, X, Airbnb, and Google, Meta (formerly Facebook) is re-entering the payments technology space, focusing again on the potential of stablecoins despite previous setbacks due to regulatory pressures. Uber CEO Dara Khosrowshahi mentioned at a Bloomberg conference on Thursday that Uber is in the research phase, considering the use of stablecoins for global money transfers.
The interest from tech giants comes as stablecoins attract significant venture capital and legislative attention. The U.S. Congress is currently reviewing two bills aimed at regulating the stablecoin asset class. Meanwhile, payment giant Stripe recently acquired stablecoin startup Bridge, a move seen as a turning point for Silicon Valley's serious consideration of this technology.