- Amazon and Walmart are considering saving the card fees incurred by purchases by using stable coins, which would also improve the cash flow control.
- More crypto-friendly regulation, lobbying of companies and support from the government could soon make the StableCoin plans a reality.
Sea A report by Wall Street Journal on Friday AMAZON and WALMART are examining plans for the issue of their own digital currencies covered by the dollar. The companies are at an early stage of exploring stable coins that would be bound to the dollar and secured by reserves such as government bonds and cash.
By using their own digital tokens, these companies could handle payments directly and would therefore no longer be dependent on credit card services such as Visa and MasterCard, which are currently charging of one to three percent per transaction. The elimination of these fees would bring significant savings, given the billions in sales of the two companies.
In addition to the cost savings, the faster handling of transactions is another important reason why retailers are interested in stable coins. Conventional card payments are usually handled within one to three working days. Stable coins can transfer funds almost immediately, which can be a great advantage for retailers who need quick access to income, especially if they manage international supply chains.
US regulation can advance plans
The genius law, which aims at the regulation of stablecoins in the USA, has progressed in the Senate and is scheduled to come to the final vote on June 17. Retail associations such as the Merchants Payments Coalition support the draft law because it could promote competition in the payment sector and reduce the fees for map processing.
Walmart has also campaigned for a corresponding amendment to create more competition in the credit card sector. If the legislation is adopted, it could accelerate the introduction of stable coins in companies because it offers a clear framework for compliance with the regulations.
The time could be cheaper now. The Trump administration has expressed its support for crypto regulation, which increases the chances of success of such efforts. In contrast to 2019, when Amazon and Walmart rumoredly registered patents for stable coin systems, the keeping of the US government is now more open.
Continued growing billions in the game
According to Standard Chartered, the StableCoin market could grow to $ 2 trillion within three years. If large companies introduce their own cryptocurrencies, they could conquer an important market share before banks and credit networks adapt.
Shopify has already announced plans to support USDC payments by the end of 2025 and is therefore one of the first global platforms that confirm such a step. This increases the pressure on Amazon and Walmart to act quickly if you want to be a leader in this area.
Amazon also supported the development of cryptocurrencies through other channels. Last year it supported web3 gaming with the offer of Credit Packs. At a certain time, some shareholders even proposed to include Bitcoin in the company’s balance sheet.
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