Walmart and Amazon are exploring the development of their own stablecoins, following recent moves to liberalize cryptocurrency regulations in the United States, according to a report by Bloomberg.
By leveraging blockchain technology, both companies aim to significantly reduce acquiring costs and streamline banking operations. Additionally, issuing their own stablecoins—digital currencies pegged to traditional fiat currencies—would enable faster payment processing.
The daily transaction volume of USDT, the world’s most popular stablecoin issued by Tether Holdings, has already surpassed $155 bn.
News of Walmart and Amazon potentially entering the crypto space has had immediate market impact, leading to a drop in share prices for traditional payment giants Visa and Mastercard.
Kursiv Uzbekistan reported that the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against crypto exchange Binance.
