Big Tech Stablecoin is a stable cryptocurrency (whose value is pegged to a fiat currency like the US dollar) that is developed or backed by a major technology company such as Meta (Facebook), Google, Amazon, Apple, or Microsoft.
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🔹 What Is a Stablecoin?
A stablecoin maintains a stable value by being backed by assets like fiat (e.g., USD), commodities (e.g., gold), or algorithms.
Common examples: USDT (Tether), USDC (Circle), BUSD (Binance).
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🔹 Big Tech in Stablecoin – Key Projects
1. Diem (formerly Libra) – Meta (Facebook)
Announced: 2019 by Facebook (now Meta).
Aimed to be a global stablecoin for Facebook, WhatsApp, and Instagram users.
Faced strong regulatory opposition (privacy, monopoly concerns).
Outcome: Project shut down in 2022. Assets sold to Silvergate Bank.
