#BigTechStablecoin Big tech companies are exploring stablecoins to improve global payments, reduce fees, and enhance user experience. Here's what's happening ¹ ²:
- *Companies Involved*: Apple, Google, Airbnb, X (formerly Twitter), Uber, and Meta are considering stablecoin integration.
- *Apple*: Discussing stablecoin functionality through Apple Pay with Circle, the issuer of USDC stablecoin.
- *Google*: Evaluating stablecoins for efficient, 24/7 payments and exploring ledger technology. Google Cloud's Rich Widmann calls stablecoins "one of the biggest upgrades to payments since the SWIFT network".
- *Airbnb*: Talking to Worldpay about using stablecoins to cut fees from credit card processors like Visa and Mastercard.
- *X*: Planning to integrate stablecoin payments into its X Money app, aligning with Elon Musk's vision of an "everything app".
- *Uber*: Examining stablecoins for global transfers to reduce costs and delays, according to CEO Dara Khosrowshahi.
- *Meta*: Exploring stablecoins for Instagram creators to receive payments faster and with lower fees.
*Why Stablecoins?*
- *Faster Payments*: Stablecoins enable 24/7 payments, reducing transaction times and costs.
- *Lower Fees*: Stablecoins can bypass traditional payment processors' fees, making transactions more cost-effective.
- *Global Reach*: Stablecoins facilitate cross-border payments, benefiting companies with international users.
*Regulatory Landscape*
- *GENIUS Act*: The