Big Tech Explores Stablecoins
Big Tech's Growing Interest in Stablecoins
The push for US stablecoin regulation is driving major tech companies to explore digital token integration. A recent Fortune report revealed that Apple, X (formerly Twitter), Airbnb, and Google are investigating stablecoins to lower transaction costs and improve international payments.
Each company is at a different stage of implementation. Google appears furthest along, having already processed two stablecoin payments. Airbnb is discussing stablecoin usage with Worldpay to bypass high credit card processing fees from Visa and Mastercard.
X's Stablecoin Integration Plans
X is reportedly in talks with crypto firms to integrate stablecoins into its X Money app, aligning with Elon Musk's vision to expand its financial capabilities. The company is actively pursuing money transmitter licenses across the US.
Stablecoin Market Growth
Stablecoins have witnessed significant growth, with their market capitalization surging from $131.3 billion in January 2024 to $249.3 billion by June 2025—a 90% increase. This growth is fueled by increased partnerships between stablecoin infrastructure providers and tech giants.
Source: DefiLlama
Strategic Partnerships and Acquisitions
Mastercard's partnership with MoonPay and Visa's collaboration with Bridge exemplify the rising trend of partnerships. Stripe's $1.1 billion acquisition of Bridge in October 2024 further solidified the interest of Silicon Valley in stablecoin technology.
Paxos, a prominent stablecoin company, is collaborating with Stripe and PayPal. Paxos is powering PayPal's PYUSD stablecoin, which boasts a market cap of $978 million.
The GENIUS Act and Senate Debate
The GENIUS Act and its Implications
The "Guiding and Establishing National Innovation for U.S. Stablecoins Act" (GENIUS Act) is a key driver behind this exploration of digital assets. However, the bill has sparked controversy, particularly concerning Big Tech's role.
Senator Josh Hawley expressed opposition, citing concerns about tech companies issuing digital currencies that could rival the dollar. Democrats are reportedly considering an amendment to prevent Big Tech from issuing their own stablecoins.
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