According to a recent report, companies Amazon and Walmart are considering creating their own stablecoins, which could alter their financial structures.
Potential advantages of stablecoins
The issuance of their own stablecoins could allow Amazon and Walmart to save billions in transaction fees and speed up settlement processes by bypassing traditional payment systems.
Current research on stablecoins
Currently, the plans are only in the exploratory stages, but this demonstrates the growing popularity of cryptocurrencies in business. Other major companies such as Apple and Airbnb are also exploring the possibility of implementing corporate stablecoins.
Stablecoin market and legislative initiatives
The development of stablecoins is happening against the backdrop of market growth and improved regulatory environment. The GENIUS Act, aimed at regulating stablecoins, is advancing in the U.S. Senate, which may change the stablecoin market, projected by Standard Chartered to reach $2 trillion in three years.
Thus, the interest of Amazon and Walmart in creating stablecoins underscores the significance and potential of cryptocurrencies in the modern financial landscape.
