Growing momentum for stable control in the United States allegedly encourages large technological companies such as Apple, XA and AirBNB to explore the integration of digital tokens.
According to the Fortunea from 6. June, at least four technological companies, including Apple, XA, AirBNB and Google, explore stableCoine as a means to reduce fees and improve cross-border payments. Each company is at different stages of implementation, and Google may have stepped back, as it has already provided two payments by Stablecoin.
Pay infrastructure companies play a role. For example, Airbnb talked with WorldPay about the use of Stablecoin, trying to reduce the credit card payment fees like more and MasterCard.
Social platform x talked to the crypto firms on StableCoin integration into your X MONEY application, it is stated in the report. Elon MUSK previously stated that he wants to expand the XA reach in order to allow users to send and receive money. The company has already requested money transfer licenses across the United States.
Google spokesman told the CoinTelegraph that the company “focused on answering customers for efficient payments 24/7” and “estimates Stablecoine that allows us to provide this in a safe and reliable way.” The technological giant also helps their customers investigate Stablecoine offering your Ledger technology.
Stablecoins became one of the most popular cases of using crypto. The market capitalization of such assets increased to $ 249.3 billion from $ 131.3 billion from January 2024, which is 90% jump.
Partnerships between StableCoin and technological companies are also increasing, seebiz. Among partnerships are MasterCard’s alliance with Moonpay and Visa’s contract with Bridge. In October 2024, Stripe announced the acquisition of Bridge worth $ 1.1 billion, which Fortune called the “Initial Pistol” for people in the Silicon Doline to take StableCoin technology seriously.
Paxos, the crypto company known for the stable, teamed with Stripe and Paypal to provide services. For stripes, Paxos planned to run a new platform to pay Stablecoins. Paxos is also a company that supports Paypal’s StableCoin Pyusd, which has a market capitalization of $ 978 million.
The Law on “Leading and establishing National Innovations for American Stablecoine”, otherwise known as the Genius Act, is one of the development that encourages companies to explore digital assets.
The bill seeks to provide a regulatory framework for StableCoine and their issuers in the country, but has encountered a debate on the potential participation of large technological companies in the crypto industry.
According to The New York Times, the Republican Senator Josh Hawley recently said that he would vote against the law in his current form, as technological firms would enable the issuance of digital currencies that would compete with the dollar.
Democrats plan to add an amendment to banning your own stable stablecoin, according to NYT, referring to a person familiar with the plan. This move would force technological firms operating in the US to use established companies for StableCoine, including Tether and Circle.
