#BigTechStablecoin
[٧/٦ ١٠:٢٨ ص] Meta AI: Big tech companies like Apple, Google, Airbnb, and X (formerly Twitter) are exploring stablecoins to reduce transaction costs and improve cross-border payments. These companies are reportedly in early talks with crypto firms to integrate stablecoins into their payment systems.
*Key Players:*
- *Apple*: Potentially using stablecoins to facilitate faster and cheaper transactions, leveraging its massive global reach and wallet infrastructure.
- *Google*: Already facilitated two stablecoin payments and is evaluating stablecoins to provide efficient, 24/7 payments. Google Cloud's Web3 lead, Rich Widmann, considers stablecoins a significant upgrade to payments.
- *Airbnb*: Discussing stablecoin integration with payment infrastructure companies like Worldpay to cut fees from credit card payment processors.
- *X (formerly Twitter)*: Exploring stablecoin integration into its X Money app, with Elon Musk aiming to broaden X's reach for users to send and receive money.
*Stablecoin Market Momentum:*
- The market capitalization of stablecoins has risen 90% since January 4, 2024, reaching $249.3 billion.
- Circle's USDC stablecoin has a market capitalization of $60 billion, with $1.42 trillion in Ethereum-based volume in May.
*Regulatory Landscape:*
- The GENIUS Act, aimed at providing a regulatory framework for stablecoins, is being debated in the US Senate. Critics argue it could give Big Tech companies too much control over finance ¹ ².
[٧/٦ ١٠:٢٨ ص] Meta AI: Big tech companies like Apple, Google, Airbnb, and X (formerly Twitter) are exploring stablecoins to reduce transaction costs and improve cross-border payments. These companies are reportedly in early talks with crypto firms to integrate stablecoins into their payment systems.
*Key Players:*
- *Apple*: Potentially using stablecoins to facilitate faster and cheaper transactions, leveraging its massive global reach and wallet infrastructure.
- *Google*:ebated in the US Senate. Critics argue it could give Big Tech companies too muover finance ¹ ².
