Walmart and Amazon are actively exploring the possibility of launching their own dollar-backed stablecoins to improve the online payment process.
Plans of Walmart and Amazon for Stablecoin Creation
According to the Wall Street Journal, Walmart and Amazon are discussing the possibility of launching their stablecoins pegged to the US dollar. This decision aims to reduce payment costs, speed up processing times, and decrease the number of payment disputes.
Benefits of Using Stablecoins
It is expected that stablecoins from Walmart and Amazon will provide more direct payment systems, excluding banks and payment cards. Experts suggest that these currencies could save billions of dollars in banking fees through faster and cheaper transactions.
Regulatory Aspects and Cryptocurrency Stability
The plans of both companies depend on regulatory clarity that may be provided by the stablecoin bill known as the Genius Act. These initiatives are also supported by actions from the US presidential administration, which aims to develop a safe regulatory environment for the use of stablecoins.
Thus, Walmart and Amazon are continuing to explore the potential of stablecoins, which could lead to significant changes in the financial ecosystem and online commerce.
