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Visa, Mastercard Shares Slide as WSJ Says Walmart, Amazon Exploring Stablecoins
- Amazon and Walmart are considering introducing their own stablecoins as a new payment method for customers this year.
- This move follows growing interest in stablecoins amid the Senate's recent advancement of the GENIUS Act to regulate them federally.
- Both companies currently pay about $14 billion annually in fees, and a 1% reduction in processing costs could save roughly $1 billion each per year.
- Oppenheimer's Owen Lau expressed cautious optimism, noting that while stablecoins have yet to achieve widespread use among consumers, progress is being made in that direction.
- If successful, the stablecoin shift could reduce payment costs, speed settlement, and challenge the dominance of banks and card networks like Visa and Mastercard.
27 Articles
27 Articles
Walmart and Amazon exploring new way for shoppers to pay that could impact banks
AMAZON and Walmart are eyeing a new payment method for shoppers this year. The change could also potentially impact banking giants moving forward. GettyWalmart and Amazon customers could soon be paying differently (stock image)[/caption] RexThe companies are exploring a cryptocurrency option (stock image)[/caption] Consumers could soon see stablecoins issued by the two companies, according to a report from The Wall Street Journal. Stablecoins ar…
Walmart and Amazon are exploring issuing their own stablecoins
Link URL: https://www.wsj.com/finance/banking/walmart-amazon-stablecoin-07de2fdd Comments URL: https://tildes.net/~finance/1omo/walmart_and_amazon_are_exploring_issuing_their_own_stablecoins Votes: 12 Comments: 23
Amazon and Walmart Target Billions in Savings with Potential Stablecoin Launch
Amazon and Walmart have begun exploring the launch of their own stablecoins, according to recent official filings and statements from company insiders. These stablecoins would be digital tokens pegged to the US dollar, designed to offer stable value and faster settlement compared to traditional payment methods. The companies have not yet made formal announcements or […]
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