#BigTechStablecoin

#BigTechStablecoin is a term that refers to a stable digital currency (Stablecoin) issued or supported by a major technology company such as Apple, Google, Amazon, or Meta (formerly Facebook). These currencies aim to combine the stability of value associated with the dollar or other assets, and the technological reach of major companies. For example, the "Diem" project (formerly Libra) from Meta was an early attempt to create a Big Tech Stablecoin. These currencies could revolutionize digital payments, but they face significant regulatory challenges due to concerns about financial monopolies, especially from central banks and governments, which fear losing control over the national financial system.