Retail Giants Explore Crypto
Walmart, Amazon, and other major corporations are reportedly considering launching their own stablecoins. This move could save them billions in transaction fees, potentially disrupting traditional finance. The idea is to create digital currencies pegged to the US dollar, offering faster and cheaper payments than traditional systems.
Expedia and Airlines Join the Exploration
Other companies exploring this option include Expedia and some unnamed airlines. The appeal lies in stablecoins’ low transaction fees and faster processing times.
The GENIUS Act: A Key Factor
The success of this plan may hinge on the GENIUS Act, a bill currently making its way through Congress. This legislation aims to regulate alternative payment systems, potentially paving the way for new competitors to challenge giants like Visa and Mastercard.
Different Approaches
Amazon’s focus seems to be on a stablecoin for online purchases. Meanwhile, Walmart has reportedly lobbied for changes to the GENIUS Act to increase competition in the credit card market. Both companies are also considering using existing stablecoins as an alternative to creating their own.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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