The crypto industry has long sought a “killer app” to bring blockchains into the financial mainstream and, in stablecoins, it may have found one. Banks and fintechs are rapidly adopting stablecoins—digital tokens pegged to the value of the dollar—and now Big Tech firms are poised to do the same. According to sources familiar with the matter, Apple, X, Airbnb, and Google are all holding early conversations with crypto firms about integrating stablecoins.
Apple, X, Airbnb, and Google are not the only Big Tech names exploring stablecoins. Others include Meta, which is once again leaning into the payment technology after abandoning an ambitious earlier push that failed in the face of regulatory backlash. Uber CEO Dara Khosrowshahi said the rideshare company is in the “study” phase of using stablecoins for global money transfers at a Bloomberg conference on Thursday.