Unexpected Cryptocurrency Move from Two US Giants Walmart and Amazon!

According to the Wall Street Journal, retail giants Walmart and Amazon are evaluating digital currencies to facilitate e-commerce and increase cross-border transactions.

At this point, it has been reported that two giant names, Walmart and Amazon, plan to launch their own US dollar-backed stablecoins for their customers.

An Unexpected Cryptocurrency Move from Two Giant Names!

According to the WSJ, Walmart and Amazon are considering launching their own USD-pegged stablecoins to reduce payment costs, accelerate transactions, and minimize payment disputes.

The stablecoins to be issued by the two giant names will enable companies to offer more direct payment systems, excluding banks and payment cards.

A source close to the matter told the WSJ that Amazon's plans are still in the early stages and that discussions are focused on the company using its own coin for online shopping.

The plans are based on the regulatory clarity that the stablecoin proposal named Genius Act (GENIUS) will provide.

According to experts, a stablecoin-based payment channel could enable such large companies to save billions of dollars on banking fees by offering faster and cheaper transactions.

As a reminder, US President Donald Trump prioritized providing clarity in the cryptocurrency sector and stated his goal of passing stablecoin legislation by August. In this regard, while efforts to pass the GENIUS Act have gained momentum, June 17 has been marked for the final vote.

Trump and his administration's pro-stablecoin stance has accelerated institutional adoption. At this point, Ripple (XRP) launched RLUSD last year, while Wall Street firm DTCC and several major banks also announced stablecoin launches.

*It is not investment advice.

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