Market News

Walmart and Amazon Explore Launch of Dollar-Pegged Stablecoins Amid Growing Demand

Walmart and Amazon are considering the creation of their own US dollar-pegged stablecoins, reflecting a burgeoning interest in digital currencies by major corporations.

This potential move is designed to streamline payment processes, minimize transaction costs, and enhance payment speed.

Currently, merchants face significant fees ranging from 1-3% per transaction when using credit card networks like Visa and Mastercard, which could be drastically reduced through the use of stablecoins.

The initiative aims to bypass traditional banking fees and associated delays, offering quicker and more cost-efficient transaction solutions.

The development is contingent upon the passage of the proposed GENIUS Act, which is expected to provide a regulatory framework for stablecoin issuance in the U.S.

If this legislation is approved, it could pave the way for further institutional adoption of stablecoins, fostering a more competitive landscape.

Although neither company has officially confirmed these plans, discussions are ongoing, focused on private coins or collaborating with existing stablecoin projects.

Both retailers are poised to benefit significantly from this transition, given their scale in the e-commerce space and the potential for enhanced payment options.

As the stablecoin market expands, the implications of such corporate movements could reshape the future of digital transactions on a global scale.

Investors will closely watch these developments as they could set a precedent for other major companies considering the move into cryptocurrency.