#科技巨头入场稳定币 I. The potential and challenges of stablecoins becoming the default method of global payment
Core advantages drive accelerated penetration
1. Efficiency and cost revolution
Traditional cross-border payments rely on the SWIFT system, taking 2-3 days and incurring fees as high as 3%-4%; while stablecoin payments can be compressed to under 30 seconds, with costs reduced to one-thousandth. For example, Tianyang Technology's solution has achieved real-time stablecoin conversion to fiat, covering Visa/Mastercard global merchants.
2. Technical adaptability
The on-chain programmability of stablecoins supports automatic settlement via smart contracts, providing underlying support for e-commerce, subscription services, cross-border salary payments, and other scenarios. For example, BenPay has integrated payment, lending, and cross-chain functions to form a 'stablecoin operating system'.
Key challenges still exist
1. The regulatory framework has not yet been globally unified
Although the EU's MiCA, Hong Kong's (stablecoin regulations), and the U.S. (GENIUS Act) are gradually being implemented, requiring 100% reserve assets and regular audits, the differences in details among countries may fracture the market. For example, Tether was denied a license by the EU due to insufficient transparency, while Circle became the first stablecoin issuer certified under MiCA due to its compliance.
2. Stability and trust mechanism linkage
Algorithmic stablecoins (like UST) have repeatedly de-pegged, while fiat-collateralized ones rely on the issuer's reserve transparency. In the future, a dual-track model combining 'decentralized algorithms + high-quality asset collateral' (like BenPay's BUSD design) will need to be adopted to enhance risk resistance.
Conclusion: Stablecoins are expected to become a mainstream option for cross-border payments within 5-10 years, but replacing fiat currency in everyday retail scenarios will take longer. Their success depends on regulatory coordination and technological risk control.
II. Assessment of the feasibility of technology platform implementation: X and Apple lead the way
Among tech giants, X (formerly Twitter) and Apple are most likely to break through first, followed by Airbnb and Uber. The core judgment basis is as follows:
X (Musk) has a clear ambition for a 'universal application', integrating payments/social; a large user base (over 500 million) can quickly form network effects | P2P tipping, real-time settlement for content creators, cross-border payments for advertisers | Need to build a compliant wallet system to meet the financial licensing requirements of multiple countries
Apple has over 1 billion Apple Pay users globally; hardware-level secure chips (Secure Enclave) are compatible with private key storage; strong control over the App Store ecosystem | Offline merchant payments (NFC), in-app purchases, Apple Card integration | Need to balance the conflict between decentralization and the closed ecosystem of iOS
Airbnb has high-frequency cross-border payment needs (hosts are global); can optimize the existing 30% cross-border fee cost | Hosts receive payments in real-time, tenants settle in multiple currencies; need to educate non-crypto users to accept stablecoin payments
The pain points of cross-border salary payments for Uber drivers are significant; the CEO publicly supports stablecoin research | Instant salary settlement for drivers, inter-regional fund dispatch | Dependent on the liquidity depth of cooperative issuers
X's breakthrough point: Musk has publicly supported cryptocurrencies, and X has applied for payment licenses in multiple U.S. states. If stablecoins are integrated, they could be first implemented in creator economy scenarios (such as tipping, paid content).
Apple's moat: The synergy between hardware and payment ecosystems is unmatched. If the iPhone is opened as a 'compliant on-chain wallet', it could disrupt user identity verification models (such as zkLogin one-click social login).
Prediction: X may launch a wallet feature embedded with stablecoins before 2026; Apple may gradually penetrate with an 'enterprise-grade stablecoin settlement API'.
III. Three major transformations in everyday cryptocurrency use
If technology platforms integrate stablecoins on a large scale, user behavior will undergo fundamental changes:
1. Payment scenarios: from 'speculative assets' to 'practical currency'
Users can directly recharge virtual credit cards (like Tianyang Technology's system) with USDC for consumption on platforms like Amazon, WeChat Pay; on-chain red envelopes (BenPay), cross-border AA payments, and other socialized payments become the norm, blurring the boundaries between finance and social interactions.
2. Cross-border experience: low-cost real-time reconstruction of global business
Small and medium-sized enterprises can bypass SWIFT and make near-instant payments to overseas suppliers using stablecoins (such as HKDR in Hong Kong), avoiding exchange rate losses. The BenPay case shows that Hong Kong enterprises use Hong Kong dollar stablecoins to pay India, reducing costs by 99%.
3. Financial threshold: Web2 users can seamlessly enter Web3
Technologies like zkLogin allow Google/Apple accounts to generate on-chain wallets with one click, eliminating the burden of managing seed phrases. Combined with Circle's market endorsement, public trust in stablecoins will cross the 'chasm'.
IV. Conclusion: Ecological integration will define the payment landscape of the next decade
The positioning of stablecoins: in the short term, they will become the preferred tool for cross-border payments, and in the long term, they may penetrate retail scenarios, but they need to compete and collaborate with CBDCs (central bank digital currencies).
The role of tech giants: X and Apple will drive 'consumer-side implementation', while Airbnb, Uber, etc., will address 'enterprise-side liquidity pain points', forming a B2C2B closed loop.
User ultimate experience: cryptocurrencies no longer need to be 'managed' actively, but are seamlessly integrated into the entire process of payments, savings, and credit like WeChat balance.
Circle's over 25 times oversubscription during its IPO (valued at $7.2 billion) confirms long-term confidence in the infrastructure of stablecoins by capital. When tech giants open user access, the 'out-of-circle moment' for stablecoins truly begins—this transformation is not about replacing traditional finance but making the flow of value as free as information.