Walmart and Amazon Consider Launching Their Own Stablecoins
Walmart and Amazon are exploring the possibility of issuing their own stablecoins in the U.S. as an alternative to traditional payment systems. The post Walmart and Amazon Consider Launching Their Own Stablecoins appeared first on Global Cosmetics News.
THE WHAT? Walmart and Amazon are exploring the possibility of issuing their own stablecoins in the U.S. as an alternative to traditional payment systems.
THE DETAILS Both companies, along with others such as Expedia and some airlines, have held internal discussions about creating or using stablecoins—digital tokens pegged to government currencies like the U.S. dollar. The move would allow them to process transactions without relying on banks or credit card networks, which charge significant fees. Amazon is also considering a proprietary coin for use on its platform. The companies are also weighing whether to join a consortium that uses an existing stablecoin instead of issuing their own. The timing and scope of these plans depend on the progress of the Genius Act, a proposed law that would regulate stablecoins and is currently moving through Congress.
THE WHY? Stablecoins could reduce transaction fees, speed up settlement times, and give merchants more control over payments—particularly for cross-border transactions. Retailers are also responding to longstanding frustration with fees from card networks like Visa and Mastercard.
Source: The Wall Street Journal
The post Walmart and Amazon Consider Launching Their Own Stablecoins appeared first on Global Cosmetics News.
