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Bitcoinist
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Amazon and Walmart Eye Launch of Their Own Crypto, Details
- Amazon and Walmart are reportedly considering launching their own digital assets, specifically in-house stablecoins.
- The initiative aims to save billions of dollars on fees and payment transactions by shifting away from the traditional financial system.
- Both Amazon and Walmart have been exploring this strategy for a while and have secured patents related to launching stablecoins.
- The companies might be engaged in a competition to become the first US merchants to introduce their own digital assets.
- While Walmart has been working on financial services to 'bank the unbanked,' Amazon has shown interest in various digital asset initiatives.
- The companies have not made any official announcements, and the current situation is based on rumors and speculation.
- The possible introduction of stablecoins could benefit Amazon and Walmart by attracting more customers and reducing costs in their supply chains.
- The political environment in the US appears more positive towards cryptocurrencies, potentially favoring such initiatives.
- The move towards launching stablecoins aligns with the trend of major companies exploring digital currencies.
- Both Amazon and Walmart have been active in the digital asset space, with Amazon even offering credit packs for Web3 Games.
- The companies are yet to confirm any specific plans regarding the issuance of stablecoins.
- The 2019 report outlined the potential benefits of in-house cryptocurrencies for optimizing supply chains and reducing transaction fees.
- The companies' interest in stablecoins reflects a strategic approach to enhancing their financial operations.
- The introduction of stablecoins could bring significant disruptions to the traditional financial system.
- Amazon and Walmart are leveraging their resources and expertise to investigate the feasibility of launching stablecoins.
- The speculation around Amazon and Walmart's potential entry into the crypto space highlights the evolving landscape of digital assets in the corporate sector.
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