#BigTechStablecoin
🔍 What is meant by #BigTechStablecoin?
Stablecoins are digital currencies that are linked to stable assets (like the US dollar) in order to reduce price volatility.
The term Big Tech Stablecoin refers to stablecoins that are launched or supported by major technology companies such as:
Meta (formerly Facebook)
Amazon
Apple
Microsoft
🧠 Notable Examples
Diem from Meta (formerly Facebook)
Announced in 2019 under the name "Libra."
Faced severe regulatory opposition from governments and central banks.
Officially closed in 2022 and its assets were sold.
Amazon and "Amazon Coin"
Has not yet launched an official stablecoin, but there is speculation about the possibility of entering this field in the future.
PayPal USD (PYUSD)
Launched by PayPal in 2023 and is a stablecoin linked to the US dollar.
Represents a concrete step by a fintech company towards digital currencies.
⚖️ Concerns and Regulations
Control of monetary policy: may undermine the authority of central banks.
Privacy: Linking financial data with user data collected by tech companies may raise serious concerns.
Financial monopoly: Technology companies may increase their control over the global financial system.
🚀 Potential Impact
Facilitating international financial transfers
Enhancing financial inclusion in unbanked areas