Major retailers, including Walmart and Amazon, are exploring the launch of their own US dollar-backed stablecoins as Congress advances legislation to regulate these digital assets. The move aims to reduce billions spent annually on credit card processing fees and speed up payment settlement times. Stablecoins, which settle transactions nearly instantly and are pegged to the US dollar, could enable retailers to bypass traditional banks and card networks.
Key Takeaways
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Walmart and Amazon are considering stablecoins to cut payment processing costs and accelerate transaction settlements.
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Adoption hinges on new US regulations, with the GENIUS Act progressing through Congress.
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Retailer-issued stablecoins could disrupt banks and card networks, but consumer adoption may require incentives.
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