Updated on June 13 at 10:30 am UTC: This article has been updated, including sections on the Genius Act.
Walmart and Amazon are reportedly considering plans to issue their own dollar-backed stable stakes to customers and adopt broader institutional stability amid improved regulatory clarity in the United States.
According to people familiar with the matter, the two retail giants are considering the development of specific brands and specific stablecoins, The Wall Street Journal Report On Friday.
Although neither company confirmed the Stablecoin program, either of them could transfer billions of dollars in cash flow from their banking partners.
Amazon reported $638 billion worth of annual revenue in 2024, with global e-commerce sales reaching $447 billion, the platform, Statista Data show.
Walmart’s global e-commerce sales exceeded US$100 billion in 2023, accounting for 17.8% of the company’s total annual sales Report August 2024.
A stable payment-based railroad will provide faster and cheaper transactions to help such large companies save billions of dollars in banking fees.
Global e-commerce giant Shopify already Confirm the plan to integrate USDC (USDCCoIntelegraph reported on Friday that it will pay its users by the end of 2025.
Cointelegraph has confirmed with Amazon and Walmart to confirm its Stablecoin launch plan.
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Walmart, Amazon Stablecoin plan may depend on Genius Law
Shopping giant’s Stablecoin issuance plans may depend on the outcome of key legislation, i.e. Guiding and establishing national innovation for the United States’ Stability Act (Genius) Act.
The bill aims to create clear rules for Stablecoin collateral and requires compliance Anti-money laundering Laws may strengthen institutional stable adoption in the world’s largest economies.
Majority Leader John Thune urge Members of Congress support the bill.
Most senators, including several Democrats, voted to pass the bill to convene a inventory, debate and a full vote, and then possibly send it to the House for further consideration.
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Companies related to financial giants Bank of America JPMorganCitigroup and Wells Fargo also reportedly discussed a potential joint stable launch.
DTCC digital assets also see Stablecoin as According to a pilot study reported by CoIntelegraph on May 15, the “perfect” financial instruments of real-time mortgage management can modernize and simplify the financial system.
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