Walmart and Amazon Consider Launching Stablecoins for Streamlined Payments
U.S. retail giants Walmart and Amazon are reportedly considering launching their own stablecoins.
These stablecoins, pegged to the U.S.dollar, could revolutionize payment systems by cutting fees and reducing reliance on customary banks. By moving daily transactions to the blockchain,both companies could offer more efficient payment solutions. Other major players, like Expedia Group Inc. and U.S. airlines, are also exploring similar initiatives. Amazon, which recently decided against holding Bitcoin, seems to favor stablecoins as a practical way to integrate crypto-like assets into their financial systems.Leading stablecoins like USDT and USDC have already shown their utility in global payments. USDT, for instance, has surpassed $155 billion in circulation, proving their efficiency and low costs.
Ride-hailing giant Uber is also studying the use of stablecoins for international transactions. Simultaneously occurring, Shopify plans to allow merchants to accept USDC payments later this month, in collaboration with Coinbase and Stripe.
Stablecoins, which maintain a stable value tied to traditional currencies, are gaining traction. The total supply of stablecoins now exceeds $239 billion, spread across 150 million wallet addresses.This surge in adoption shows their potential as low-cost alternatives to traditional payment methods.
Uber, to, is exploring stablecoins to streamline global payments. CEO Dara Khosrowshahi revealed the company is in the “study phase” of evaluating stablecoins. This trend indicates a growing interest in stablecoins across various industries, from e-commerce to travel.
