Big Tech companies are entering the stablecoin space, aiming to revolutionize digital payments. Stablecoins are cryptocurrencies pegged to stable assets like the U.S. dollar, offering low volatility. Companies like Meta (formerly Facebook) proposed projects like Diem to create global, fast, low-cost payment systems. While promising, these efforts face regulatory scrutiny over privacy, control, and financial stability. If launched, Big Tech stablecoins could challenge traditional banking and reshape global finance. However, concerns about centralization and data use remain. The intersection of tech giants and crypto raises both exciting opportunities and important questions for the future of money.
