Walmart and Amazon explore "issuance of stablecoin" to challenge encryption payments and save on hefty fees from VISA and Mastercard.

Walmart and Amazon are rumored to evaluate their own stablecoins, want to cut transaction fees, impact Visa and Mastercard ecology, GENIUS Act becomes the key to landing (Synopsis: US Treasury Secretary Becent: The market value of stablecoins will exceed $2 trillion, and the GENIUS Act leads a new era) (Background supplement: Alipay's parent company" Ant Group plans to apply for Hong Kong and Singapore stablecoin licenses, related concept stocks soared) US retail leader Walmart and Amazon intends to issue its own stablecoin, with the goal of bypassing the credit card network and driving down transaction costs. Wall Street Journal As soon as the news came out today (13th), the financial circle immediately paid attention to the two channel giants, which may make the public develop the daily habit of using crypto payments. Transaction fee reduction = big profit The current credit card "interchange fee" is about 1.5% to 3.5%. If you switch to stablecoins, assume that each fee on the Solana chain is only about $0.00025. The Wall Street Journal quoted a person familiar with Walmart as saying: "Stablecoins can shorten settlement from days to minutes, and the cross-border effect is more obvious." Walmart has tried to win an industrial loan license, and Amazon is evaluating a "shopping token" scheme internally. The two companies have huge customer and supplier data, and once stablecoins are introduced, the billions of dollars in annual fees paid to Visa and Mastercard may be greatly reduced. The key to stablecoins: the GENIUS Act Whether the stablecoin project can be implemented depends on the "GENIUS Act" in the hands of Congress. The draft calls for 1:1 reserves, monthly disclosures, annual audits, and compliance with AML and KYC. Walmart has supported the inclusion of amendments to encourage credit card competition. An assistant involved in the legislation explained: "Without clear regulation, large businesses will not take risks easily." A number of Wall Street banks are also working on shared stablecoin platforms to protect payments. Visa and Mastercard have also recently emphasized "on-chain settlement" testing, hoping to incorporate the new version of the technology into existing networks. For consumers, lower fees may be reflected in product prices or shopping rewards, but financial security and privacy issues also arise. Analysts warn that once retailers hold a large number of short-term U.S. bonds as reserves, it may affect the liquidity of government bonds. Related Stories Bitcoin "Invisible Market Maker" Theory: How Tether Kidnaps BTC Prices with Stablecoins? ARK Invest: Stablecoins will be the most powerful "financial comrades" of the US government "Walmart and Amazon explore "issuing stablecoins" to challenge crypto payments, saving VISA and Mastercard huge fees" This article was first published in BlockTempo's "Dynamic Trends - The Most Influential Blockchain News Media".