This Week Summary on Stablecoin News:
- Amazon & Walmart explore issuing stablecoins
- Visa & Mastercard shares dip on merchant stablecoin news
- U.S. Senate advances the GENIUS Act for stablecoin regulation
Amazon and Walmart May Launch Their Own Stablecoins
Retail giants Amazon and Walmart are exploring the issuance of their own proprietary stablecoins or partnering with merchant-led stablecoin platforms, according to a Wall Street Journal report cited by Ledger Insights. The move aims to reduce reliance on Visa and Mastercard’s costly payment rails and improve settlement efficiency. The companies are reportedly evaluating stablecoin models that could function as closed-loop systems for faster, cheaper retail transactions.
This exploration comes as part of a broader trend of large merchants reassessing the cost structures and dependencies in traditional payments. While Amazon is in the early discussion stages, Walmart is simultaneously pushing for regulatory reforms on credit card fees. However, any formal move into stablecoins will depend heavily on the progress of the GENIUS Act, which will dictate how, and whether nonbanks can issue dollar-pegged tokens under U.S. law.
Visa & Mastercard Stocks Slide
Shares of Visa and Mastercard dropped more than 4–6% following news that large retailers are exploring stablecoins to cut payment fees. Investors fear this could erode the processing fees that underpin their business models.
However, many analysts remain cautiously optimistic: consumer incentives, credit‑card rewards, and logistical hurdles may slow adoption. As one expert noted, consumers still “like credit,” suggesting stablecoins may need years to reach meaningful traction
GENIUS Act Advances in Senate
On June 11, the U.S. Senate voted 68–30 to end debate on the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), clearing a key procedural hurdle and moving it closer to a full Senate vote.
If enacted, the bill would codify comprehensive regulations for private stablecoin issuers: full reserve backing, audits, AML compliance, and dual federal/state oversight. Backers say it’s necessary to safeguard consumers and unleash innovation but opponents warn about Big Tech favoritism and weak protections.
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This Weekly Summary is prepared by brava.xyz.
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Citations:
https://www.ledgerinsights.com/amazon-walmart-mull-stablecoin-issuance-report/
https://cointelegraph.com/news/us-senate-passes-cloture-genius-stablecoin-bill
