Amazon And Walmart Explore Launching Dollar-Backed Stablecoins In The U.S.

Walmart and Amazon are exploring issuing their own stablecoins in the U.S. to cut card processing fees and speed up transactions, especially for cross-border payments. This move could shift consumer spending away from banks and pressure card networks like Visa and Mastercard. Their plans depend on the passage of the GENIUS Act, which would create a legal framework for stablecoins. Both companies are still in early stages, considering private coins or partnerships, while Walmart is also pushing for more credit card competition. Source: Coindesk