#BigTechStablecoin
$BTC 🔍 Key Stablecoin Initiatives from Big Tech:
1. PayPal USD (PYUSD)
Issuer: Paxos, in partnership with PayPal
Backed by: U.S. dollar reserves
Launched: 2023
Use Case: Facilitates payments, transfers, and crypto integration across PayPal and Venmo platforms.
2. Diem (formerly Libra)
Backed by: Originally proposed by Meta (Facebook)
Status: Project disbanded; assets sold to Silvergate Bank in early 2022
Reason for Termination: Faced intense regulatory scrutiny and global backlash.
3. Amazon / Google / Apple
Status: No official stablecoin launched yet
Involvement: Active in blockchain infrastructure through services like AWS, Google Cloud, and related technologies.