US EditionVisa, Mastercard Shares Slide as WSJ Says Walmart, Amazon Exploring Stablecoins
- Amazon and Walmart are considering developing stablecoins tied to the U.S. dollar as a strategy to cut billions in yearly card processing expenses starting in 2025.
- This initiative is based on the GENIUS Act, which has advanced through a key Senate step and seeks to establish federal regulations for stablecoins in the United States.
- Stablecoins offer near-instant settlements bypassing traditional banking, potentially saving Amazon and Walmart billions while accelerating cash flow and reshaping payment systems.
- Visa and Mastercard shares fell by about 5% and 4% respectively after a Wall Street Journal report noted these stablecoin plans, highlighting the strong market impact of payment innovation.
- If successful, these corporate stablecoins could amplify retail dominance and set precedents amid regulatory challenges and concerns about private control and public accountability.
20 Articles
20 Articles
Amazon and Walmart Target Billions in Savings with Potential Stablecoin Launch
Amazon and Walmart have begun exploring the launch of their own stablecoins, according to recent official filings and statements from company insiders. These stablecoins would be digital tokens pegged to the US dollar, designed to offer stable value and faster settlement compared to traditional payment methods. The companies have not yet made formal announcements or […]
Walmart and Amazon Set to Launch Their Own Cryptocurrencies for Seamless Payment Systems
The Retail Giants’ Cryptocurrency Ambitions Walmart and Amazon, two of the world’s largest retailers, are planning to develop their own cryptocurrencies, specifically stablecoins, to transform the way they handle payments. This move follows the growing trend of digital currencies taking center stage in global financial transactions. Walmart and Amazon’s entry into the crypto space could significantly impact payment systems, helping them bypass c…
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