According to a Friday report by Fortune, tech behemoth Apple is currently discussing stablecoin integration with cryptocurrency firms.
Apart from Apple, some other prominent firms, such as Alphabet and Airbnb, are also having similar discussions.
Stablecoins are now emerging as the long-awaited "killer app" that could potentially take the industry mainstream. The introduction of dollar-backed cryptocurrencies could potentially make transactions cheaper and more efficient.
As reported by U.Today, Apple CEO Tim Cook confirmed that he personally held crypto as of 2021. However, the tech titan, which boasts a market cap of $3 trillion, has so far refrained from touching crypto. Cook rejected the idea of Apple itself buying crypto.
Back in 2019, Apple also hinted that it was exploring blockchain technology for supply chain management in a regulatory filing.
Apple co-founder Steve Wozniak previously spoke favorably of Bitcoin, describing the leading cryptocurrency as "pure-gold mathematics."
Last October, Strategy CEO Michael Saylor opined that Apple had to consider buying $100 billion worth of Bitcoin. However, it is extremely unlikely that the tech giant will be the next Fortune 500 company to buy the leading cryptocurrency.
The shareholders of such tech giants as Meta and Microsoft have overwhelmingly rejected recent proposals to make Bitcoin part of the companies' balance sheets.
However, with the likely passage of the much-talked-about US stablecoin bill and the successful Circle IPO, dollar-backed cryptocurrencies might seem to be a much more viable option for tech giants.
Vladislav Sopov
U.Today Editorial Team