Walmart and Amazon Explore Issuing Dollar-Pegged Stablecoins in the U.S.
Walmart and Amazon are exploring the issuance of their own stablecoins in the U.S., as reported by the Wall Street Journal. Key points include:
- The stablecoins would be pegged to the U.S. dollar or other government-backed currencies.
- Potential benefits include reduced merchant fees and faster payment settlements.
- The initiative depends on the passage of the Genius Act, which has advanced in Congress.
- This act could enable large companies to adopt or issue stablecoins, challenging traditional financial institutions.
- Both retailers are in early discussions about private coins or partnerships with third-party stablecoin providers.
- Walmart is also advocating for changes to enhance credit-card competition.