According to a report by The Wall Street Journal on Friday, June 13th, informed sources revealed that retail giants Walmart and Amazon are evaluating plans to issue stablecoins backed by the US dollar.
These two companies are considering developing stablecoins under specific brands, aiming to simplify e-commerce processes and facilitate cross-border transactions. Stablecoins are a type of crypto token usually pegged to currencies such as the US dollar. Compared with highly volatile cryptocurrencies, they are more suitable for payment purposes.
For large retailers, there are many potential benefits to issuing stablecoins. On the one hand, merchants have long been trying to break away from the dominance of Visa and Mastercard, because credit card transactions usually require merchants to pay a handling fee of 1%-3%. For large retailers handling billions of transactions, these fees add up to a huge annual cost, while stablecoin transactions can help merchants save billions of dollars in credit card payment fees. On the other hand, stablecoin transactions can be settled almost immediately. In contrast, traditional credit card payments usually take 1 to 3 working days. This enables merchants to obtain funds more quickly, improve cash flow, and manage the global supply chain more effectively, especially when making payments to international suppliers.
However, neither of these two companies has confirmed their stablecoin plans yet. Moreover, the final decision for retailers to issue stablecoins depends on the passage of the “GENIUS Stablecoin Uniform Standards Assurance Act” in the United States, which will create a regulatory framework for stablecoins. If the bill is passed, it will provide a clear legal basis for the issuance and use of stablecoins and contribute to the healthy development of the stablecoin market.
In addition, not only Walmart and Amazon, but also large companies such as Expedia Group and some airlines have discussed the possibility of issuing stablecoins. The stablecoin plans of these companies reflect that in the context of increasingly clear regulation, institutions are becoming more and more accepting of stablecoins, and the application prospects of stablecoins in the business field are also becoming increasingly broad.
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