We are currently witnessing a fundamental shift in the financial landscape over recent years, with a strategic shift among Big Tech giants like Apple, Google, and X (formerly Twitter) and Airbnb, who are moving towards adopting **stablecoins** as an essential part of their financial systems. These currencies, pegged to stable assets like the US dollar, provide advantages of transaction speed and cost reduction without being exposed to the volatility of other digital currencies like Bitcoin. With its market value growing by **90% since January 2024** (from $131.3 billion to $249.3 billion), these digital assets have become the first major use case of financial technology in the mainstream.
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The driving forces for adoption
1. **Cost Reduction and Increased Efficiency**:
- Companies like Airbnb face **high fees** from credit card processors (like Visa and Mastercard), especially in cross-border transactions. Stablecoins provide an alternative that reduces these costs by up to 70% in some cases, depending on the transaction size.
- Enables **instant settlements** compared to traditional banking systems that take 3-5 business days.
2. **Expansion in Financial Services**:
- X (under Elon Musk's management) aims to transform its platform into an "Everything App" that supports money transfer through chats, leveraging the money transfer licenses it has obtained in 41 US states.
- Apple aims to integrate stablecoins into Apple Pay, allowing users to make "tap-to-pay" transactions without banking intermediaries.
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Case Studies: Strategies of Major Companies
*A table summarizing technology companies' trends towards stablecoins:*
| **Company** | **Partners/Platforms** | **Main Objective** | **Development Stage** |
|------------------|--------------------------|-------------------------------------------|------------------------------|
| **Apple** | Circle (USDC) | Integrating currency payments into Apple Pay | Early Discussions |
| **Google Cloud** | PayPal (PYUSD) | Supporting Web3 developers through cloud infrastructure | Pilot Application (Two transactions completed) |
| **Airbnb** | Worldpay/BNVK | Simplifying cross-border host payments | Feasibility Study |
| **X (Twitter)** | Stripe, Visa | Enabling money transfer via the X Money App | Development (Launch expected 2025) |
| **Meta (Facebook)** | Unannounced | Cross-border settlements for advertisers and creators | Regulatory Review |
1. **Meta's Cautious Return**:
After the failure of the "Libra" project in 2022 due to regulatory pressures, Meta is now returning with a more modest plan. It focuses on using existing stablecoins to settle payments for advertisers and creators across borders, especially in emerging markets.
2. **The Role of Supportive Infrastructure**:
- **Stripe**: Acquired the stablecoin platform "Bridge" for $1.1 billion, enabling it to offer payment solutions across 101 countries.
- **Visa**: Launched stablecoin-linked cards in partnership with "Bridge," targeting fintech developers.
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### Regulatory Challenges: A Battle Between Innovation and Control
The "GENIUS Act" (the guiding law for defining national innovation for stablecoins) in the United States has sparked intense debate:
- **Republicans' Stance**: They support the participation of tech companies in issuing stablecoins, with controls such as **100% full reserves** to ensure stability.
- **Democrats' Stance**: They propose an amendment that prohibits tech companies from issuing their own stablecoins to avoid competition with the US dollar. This may push them to rely on companies like Circle (USDC) or Tether.
*Summary of Key Regulatory Positions:*
- **European Union**: The "MiCA" framework imposes transparency on reserves.
- **United Kingdom**: The Financial Services and Markets Act integrates stablecoins.
- **Singapore**: Strict licensing for issuers.
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Future Impacts: Towards a New Financial System
1. **Growth of Invisible Infrastructure**:
- Companies like BNVK and Oval Finance offer payment solutions in Africa and Southeast Asia, where transactions reach 220,000 new wallets monthly.
- Compliance tools (like Chainalysis) become essential for monitoring suspicious transactions.
2. **Competition with Traditional Banks**:
- Banks like Bank of America are developing their own stablecoins, while companies like PayPal (with PYUSD) are becoming direct competitors through partnerships with Google.
3. **Integration into Daily Commerce**:
- Platforms like WhatsApp and Instagram may enable sending "tips" to creators via stablecoins.
- Apps like Uber are exploring using it to settle international driver payments.
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A financial system that reinvents itself
The adoption of stablecoins by major tech companies is not just a tech trend, but a **radical transformation in the structure of global payments**. Despite regulatory challenges, this shift is heading towards a model that is faster, more transparent, and more inclusive, especially in emerging markets. By 2030, stablecoins could become an integral part of digital commerce, redefining our relationship with money itself. As the founder of "T3RRA" said:
> *"It's like new water pipes: you don't see them, but everything relies on them"* .
