In recent years, technology giants have entered the stablecoin space, and here are some major tech companies and their related actions:
- Apple: According to informed sources, Apple has been in talks with stablecoin-related individuals since the beginning of the year, exploring the addition of stablecoin payment functionality in Apple Pay and the entire Apple ecosystem. Additionally, Apple has discussed infrastructure and compliance with stablecoin issuer Circle, attempting to reduce Apple Pay and App Store-related payment fees through stablecoins and lessen dependence on traditional payment processors like Visa and Mastercard.
- X (formerly Twitter): After acquiring a stake in the Bitcoin startup Square in 2021, X applied to register X Coin (XCO) in October 2023 and filed a patent application for the payment app X Money in January of this year. Recently, X has been developing a new app called X Money, aimed at creating a "universal app" that integrates social media, commerce, and digital payments, and is in discussions with cryptocurrency companies about stablecoin payment integration, as well as talks with Stripe.
- Google: Google Cloud has shown strong interest in stablecoins, with Rich Widman, head of its Web3 department, stating that stablecoins are one of the biggest advancements in the payment field since the advent of the SWIFT network. Reports indicate that Google is exploring potential uses of stablecoins, although there are currently no concrete plans in place.
- Airbnb: To reduce the high fees charged by credit card companies, Airbnb is exploring stablecoins as a potential payment solution. The company plans to begin research into implementation starting in early 2025 and is collaborating with payment facilitator Worldpay and cryptocurrency firm BNVK to reduce dependence on traditional payment networks.
- Meta: Three years after abandoning the Libra/Diem project, Meta is in preliminary discussions with several cryptocurrency companies about stablecoin applications, exploring cross-border payments for creators to lower costs.