Walmart and Amazon to issue stablecoins

Two days ago, it was reported that China's technology giant Ant Digital will apply for stablecoin licenses in Hong Kong and Singapore.

And today, the traditional giants of the United States are not idle either. The Wall Street Journal broke the news that Walmart and Amazon are also exploring the issuance of their own stablecoins.

It is reported that Walmart and Amazon are preparing to apply stablecoins directly to their own commodity trading scenarios.

Currently, the U.S. retail industry relies heavily on credit card payments, and the handling fee is usually 2.9% + $0.30(fixed fee) of each transaction. Of course, merchants of Amazon and Walmart's size may negotiate more favorable rates with payment channels, but the market speculates that the payment cost is also around 2%.

These two retail giants are expected to have sales of more than $700 billion in 2025. If they all use stablecoins for payment, they can save more than $20 billion in payment costs.

If these giant companies can support stablecoin payments, it will undoubtedly play a super boosting role in the promotion of encrypted payments.

Now the "Genius Act" that determines the fate of stablecoins in the United States has passed multiple Senate motion votes, and the Senate's formal vote is expected to be in the afternoon of June 17, Eastern Time.

With the support of traditional giants, it is undoubtedly another great benefit to the future development of stablecoins~

Currently, major traditional giants have expressed their intention to adopt stablecoins. For example,Shopify has cooperated with Coinbase and Stripe to launch a stablecoin payment function, allowing merchants to choose to receive payments in USDC.

The future currency will be issued by various stablecoin issuers.

Therefore, although stablecoins are bad for banks, they are not necessarily bad for transaction settlement intermediaries.

PayPal has issued its own stablecoin, PayPal USD, and Mastercard also announced in April this year the launch of an integrated stablecoin acceptance solution from wallet to checkout.

VISA's actions are even faster, and it has supported the use of USDC for settlement through its VisaNet system, with a total settlement amount of more than 225 million US dollars.

Relatively speaking, if Chinese technology giants such as Ant/JD.com issue stablecoins, it will be very difficult to compete with American giants without the support of local businesses~