Apple, Google, Meta, X Turn to Stablecoins for Fast Payments

The major tech companies like Apple, Google, X (formerly Twitter), and  Airbnb are showing serious interest in integrating stablecoins into their platforms to improve how payments work. As per the latest reports, these companies are in early discussions with crypto firms.

The main goal is to use stablecoin, digital currencies tied to the U.S. dollar, to reduce payment fees and make international transfers faster and cheaper. Google confirmed it is exploring stablecoin integration.

Rich Widmann, Google Cloud’s Web3 lead, called stablecoins “one of the biggest upgrades to payments since the SWIFT network.” Airbnb said that while crypto payments aren’t currently being added, they are watching the space closely to improve their payment experience. Apple and X declined to comment on their plans.

Many other major tech companies are also considering the same path. Meta has paused its crypto after regulatory challenges, but now it is back to considering stablecoins. The CEO of Uber, Dara Khosrowshahi, also shared that the company is currently studying how stablecoins could help with global money transfers.

This growing interest from Big Tech coincides with stablecoins gaining popularity in both the financial industry and Washington. Venture capital firms are pouring money into stablecoin projects, and U.S. lawmakers are considering new bills to regulate them.

Airbnb has been in talks with a crypto firm since early this year. The company sees stablecoin as a solution to reduce the high fees it pays to credit card companies. Airbnb has also discussed stablecoin use with its payment processor, Worldpay. This company has recently partnered with a stablecoin company called BNVK.

Even Elon Musk’s X is working on a payments app called X Money and is talking with crypto firms to include stablecoin options. The company is discussing a stablecoin partnership with payments processor Stripe. Apple, already strong in digital payments through Apple Pay, is also in stablecoin talks. Sources say Apple has been speaking with stablecoin issuer Circle, possibly through one of Circle’s senior directors.

However, it is important to note that the companies have not confirmed these plans publicly.