Apple in Talks With Crypto Companies to Integrate Stablecoins: Report

Tech giant Apple is talking with several cryptocurrency companies to add stablecoins to its services. According to a report, this move could allow users to make direct payments with stablecoins on their  Apple devices.

Apple, Amidst Others, Set to Revive Stablecoin Ambitions

Meanwhile, Apple is not the only company looking into stablecoins. Other tech giants like Airbnb, Google, and Alphabet are also engaging with blockchain and crypto companies. These giants aim to explore how stablecoins can enhance their global operations and offer additional payment options for users, creators, and service providers.

Stablecoins are digital currencies linked to traditional currencies like the US dollar. They offer the benefits of blockchain technology while ensuring stable prices. Stablecoins also enable quick, low-cost, and borderless transactions, where traditional finance still has challenges.

If these integrations happen, it would be a major step forward in how mainstream tech companies use blockchain for finance. This change could greatly impact not only cryptocurrency markets but also global finance. It would also increase public trust in stablecoins like USDC and USDT, and encourage regulators to speed up their rules for stablecoins.

Stripe to Integrate Stablecoins

It is worth noting that Stripe, a payment processing platform, is also in talks with global banks about adding stablecoins. The goal is to speed up transactions, lower cross-border payment costs, and make accessing financial services easier for businesses worldwide. While there are no former deals yet, the talk shows that stablecoins could play an important role in the future of global payments.

Meanwhile, Stablecoins are becoming essential in fintech, with big companies like PayPal and Visa exploring their uses. If these partnerships succeed, it could help more businesses use stablecoins through Stripe’s large network, which includes millions of businesses in over 80 countries.

Stablecoin Ecosystem Forces Regulation

Intriguingly, the acceptance and use of stablecoins have been on the rise. With this increasing traction, the niche has grown to a valuation of $233.37 billion, per a report from Forbes. In light of the sentiments surrounding stablecoins, regulators have swung into action and drafted suitable regulatory frameworks to guide the sector.

The GENIUS Act and the STABLE Act are two stablecoin regulatory proposals currently considered. However, Coinbase CEO Brian Armstrong has recently urged lawmakers to rethink the approach, citing that it is too strict. He believes that both bills will stifle innovation and creative spirit in stablecoin providers.