A naukri.com initiative
TheCryptoBasic
1d
27
Image Credit: TheCryptoBasic
Amazon and Walmart Exploring Launch of Their Own Stablecoins: Report
- Amazon and Walmart are reportedly exploring the launch of their dollar-pegged stablecoins for enhancing operations and reducing transaction costs.
- Stablecoins could offer instant and cheaper transactions compared to traditional financial systems, potentially saving businesses millions in transaction fees.
- The initiative could impact banking partners as the retail giants might shift significant cash flows away from them.
- Amazon's global e-commerce sales were $447 billion in 2024, while Walmart's sales exceeded $100 billion the previous year.
- Both companies could save millions through cheaper transactions offered by stablecoins, despite no official confirmation on their launch plans.
- The potential launch of stablecoins by Amazon and Walmart is subject to the passage of the GENIUS Act, which aims to regulate the stablecoin market with AML and collateralization rules.
- Congress is deliberating on the bill introduced by Bill Hagerty, with a final passage vote scheduled for June 17, 2025, according to Eleanor Terrett.
- The passage of the GENIUS Act could pave the way for Amazon and Walmart to introduce their stablecoins within a regulatory framework.
- Shopify is also considering integrating with an existing stablecoin, as it recently rolled out early access for Circle's USDC payments in collaboration with partners like Stripe and Coinbase.
Read Full Article
1 Like
For uninterrupted reading, download the app