Tech Giants Eye Stablecoins to Cut Costs and Boost Efficiency

Prominent firms such as Apple, Airbnb, Google, and X are considering integrating stablecoins to help reduce global payment costs and enhance efficiency. The latest development comes as institutions, banks, and countries rapidly adopt stablecoins.

A recent report by Fortune, which cited confidential sources familiar with the matter, revealed that Apple is engaging with stablecoin providers to assess blockchain infrastructure for digital payments. The firm aims to reduce cross-border transaction costs within the Apple Pay and App Store ecosystems. 

Tech Giants to Integrate Stablecoin 

If the move is successful, it would mark a significant milestone for the companies involved and could also pave the way for other firms to follow suit. Notably, while Apple is one of the major players in the tech industry, the company is conducting due diligence in selecting tech partners that meet both technical and regulatory standards. 

Interestingly, the company has avoided regulatory troubles and crime-linked activities. Earlier this year, the firm removed crypto giants like Bybit, KuCoin, and Bitget from its Japan Apple App Store as the crackdown intensified. 

Earlier this year, Apple also met with Circle, a major stablecoin issuer, to explore blockchain for global payments. The move reflects the company’s commitment to integrating stablecoins into its transactions.

A Clear Regulatory Framework

With United States regulations on crypto becoming more defined, the tech giant is gaining confidence in its projected adoption. Apple could be the first among prominent tech firms to leverage stablecoin infrastructure.

Like Apple, Airbnb is embracing blockchain to streamline operations and lower processing costs. Airbnb is an online platform where property owners can list their homes or rooms for short-term rental to travelers, essentially acting as a digital marketplace. It allows hosts to rent out spaces and guests to find unique and potentially affordable accommodations. 

With a mission to redefine cross-border payments, Airbnb is turning to stablecoins. It seizes the timing as fintech embraces a more transparent and user-driven future. 

X (formerly Twitter) is also not left behind in the latest move. The company promotes stablecoin plans through the X Money app, targeting Stripe deals to enable its users to send digital dollars—no bank account required. While X is a platform that crypto enthusiasts use to discuss crypto assets and investments, the company aims to adhere to regulatory frameworks. 

Additionally, Google, a multinational American search engine company, has also shown interest in adopting stablecoins. The firm aims to integrate stablecoin in its transactions. Google Cloud and PayPal are teaming up to bring seamless stablecoin payments through PYUSD integration.

Last year, the firm supported project building on the BNB Chain through the MBV program. The MVB program is an accelerator program for developers, founders, and builders. The BNB Chain runs the initiative in collaboration with Binance Labs and CoinMarketCap’s accelerator program for startups.

The post Tech Giants Eye Stablecoins to Cut Costs and Boost Efficiency appeared first on Cointab.