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Walmart and Amazon are preparing to launch their own stablecoins as the U.S. Senate advances landmark legislation that would establish a federal regulatory framework for privately issued digital dollars for the first time. The legislation, known as the GENIUS Act (S.394), has passed committee and cleared cloture, with a final Senate vote scheduled for June […] The post Walmart & Amazon eye $14B in savings by launching corporate stablecoin appeared first on CryptoSlate.

Retail giants Walmart and Amazon are reportedly evaluating digital currencies to streamline e‑commerce and boost cross‑border transactions. Update June 13, 10:30 am UTC: This article has been updated to include a section on the GENIUS Act. Walmart and Amazon are reportedly mulling plans to issue their own US dollar-backed stablecoins for customers, signaling wider institutional stablecoin adoption amid improving regulatory clarity in the United States. The two retail giants are mulling the development of brand-specific stablecoins, according to people familiar with the matter, The Wall Street Journal reported on Friday. Read more