This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Retail giants Amazon and Walmart are reportedly planning to launch their own USD-backed stablecoins, a move that could revolutionize their payment systems and boost crypto adoption. This development comes as bipartisan legislation, the GENIUS Act, aims to establish a federal framework for stablecoins. If successful, these corporate stablecoins could slash transaction fees and accelerate settlements.
- Amazon and Walmart's stablecoins could eliminate 1-3% credit card fees and enable instant settlements, saving billions annually.
- The GENIUS Act mandates 100% reserve backing for stablecoins and requires audits for issuers over $50B market cap.
- Corporate stablecoin adoption faces regulatory and trust hurdles following TerraUSD's 2022 collapse, requiring transparent governance.
📎 Related coverage from: crypto-news-flash.com
Other Tags: Cronos, Terra, US Dollar, USDC, Bill Hagerty, Cynthia Lummis, Kirsten Gillibrand, Tim Scott, AMZN, Airbnb, Blockchain, Coinbase Commerce, Shopify, Wall Street Journal, Walmart, X Payments
