Overview
Apple, Airbnb, Google, and X are currently in initial discussions with crypto firms regarding the use of stablecoins for payments, as reported by Fortune. This strategic move aims to leverage stablecoins to decrease transaction costs and facilitate international payments.
Key Highlights
- Major companies including Apple, Airbnb, and X are talking to crypto firms about stablecoin integration.
- Circle, a stablecoin issuer, recently saw a significant IPO, raising shares by 40%.
- In 2024, stablecoin transactions reached over $27.6 trillion, surpassing volumes of major credit card networks like Visa and Mastercard.
Stablecoins are digital currencies linked to traditional currencies such as the U.S. dollar. They serve as intermediaries between crypto systems and conventional finance, promoting efficiency in transaction handling. A report from the World Economic Forum indicates these digital tokens supported higher transaction volumes than Visa and Mastercard combined.
Apple is reportedly exploring stablecoin applications for Apple Pay, starting discussions as early as January this year. Concurrently, X is in conversations with Stripe for potential stablecoin transactions. Similarly, Airbnb is investigating stablecoins to minimize fees paid to credit card processing networks.
Legislative changes, particularly with the potential return of Trump to office, seem to be reducing the perceived risks of adopting crypto practices in U.S. businesses. Some analysts forecast the stablecoin market could grow to $2 trillion by 2028, driven by impending regulatory clarity from the anticipated GENIUS Act.
