#BigTechStablecoin

Why Big Tech is Turning to Stablecoins

Stablecoins offer a way to move money quickly and cheaply across borders, a big selling point for global companies. Unlike traditional bank transfers, which can be slow and costly, stablecoins can enable near-instant settlements and lower fees. This is why firms like Apple and Google are exploring their use for payments and cross-border transfers.

Meta, the company behind Facebook, is also returning to this proposal after its earlier attempt faced regulatory hurdles. Uber CEO Dara Khosrowshahi recently said Uber is studying stablecoins for global money transfers, showing the ride-sharing giant’s interest in the space. The push from Big Tech comes as stablecoins attract millions in venture funding and increased scrutiny from lawmakers. They are considering new regulations to protect consumers while fostering innovation.