WALMART AND AMAZON ARE EXPLORING ISSUING THEIR OWN STABLECOINS

Summary from the TLDR newsletter

Several multinational giants, including Walmart and Amazon, are discussing potential efforts to issue stablecoins. Whether these initiatives will go ahead depends on a bill still yet to clear the Senate and House called the Genius Act, which establishes a regulatory framework for stablecoins. Stablecoins could allow merchants to bypass traditional payment rails, which cost them billions of dollars in fees each year. A regulatory framework for stablecoins would enable an alternative payment type for merchants that could significantly lower their expenses and create competition against Visa and Mastercard.