#BigTechStablecoin
Why large tech companies are turning to stablecoins
Stablecoins offer a way to transfer money quickly and cheaply across borders, which is a significant advantage for global companies. Unlike traditional bank transfers, which can be slow and expensive, stablecoins allow for almost instant settlements and lower fees. This is why companies like Apple and Google are exploring their use for payments and cross-border transfers.
Meta, the company behind Facebook, is also revisiting this proposal after its previous attempt faced regulatory hurdles. Uber CEO Dara Khosrowshahi recently stated that Uber is exploring stablecoins for global money transfers, indicating the ride-hailing giant's interest in this area. The push from large tech companies is driven by the fact that stablecoins are attracting millions in venture funding and increased attention from lawmakers. They are considering new rules to protect consumers and foster innovation.