This is a move that could allow them to bypass traditional card networks and reduce transaction fees. Stablecoins are digital assets designed to maintain a fixed value, often pegged to the USD. Unlike more volatile cryptocurrencies, these tokens aim to offer price stability, making them more practical for everyday transactions.
By issuing a proprietary stablecoin or accepting third-party versions, large retailers could operate outside the existing financial infrastructure dominated by banks and credit card companies. This could potentially eliminate billions in interchange and processing fees typically paid to providers like Visa and Mastercard, according to a recent Wall Street Journal report.
The initiative may hinge on regulatory developments. A legislative proposal known as the Genius Act is currently under Senate review. The bill seeks to establish a regulatory framework that would allow private companies to issue stablecoins. It has cleared a procedural obstacle but still requires full approval in both the House and Senate before becoming law.
Retailers are not alone in exploring these possibilities. The report notes that companies such as Expedia and some airlines are also assessing the use of stablecoins in their payment systems.
Officials from Walmart declined to comment on the matter, while Amazon did not respond to inquiries. Stock market reactions were muted for both firms, though shares in Visa and Mastercard fell by 5% and 4% respectively according to Investopedia.
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