According to a Friday report by the Wall Street Journal, Amazon and Walmart are considering issuing their own dollar-backed cryptocurrencies.
This would allow the American merchant powerhouses to potentially save billions in fees and speed up settlements by bypassing traditional payment systems.
For now, such plans are only in the exploratory stages, but they show that crypto finally has a mainstream use case.
As reported by U.Today, Apple, Airbnb and several other tech giants are also exploring corporate stablecoins.
Traditional financial institutions such as Bank of America and Fidelity are also preparing to join the trend.
These moves come amid the impressive growth of the stablecoin sector and a rapidly improving regulatory environment.
As reported by U.Today, the GENIUS Act, which is meant to regulate the stablecoin sector, advanced in the U.S. Senate earlier this week. The final vote has been scheduled for June 17.
Standard Chartered recently estimated that the stablecoin market could swell to a whopping $2 trillion in just three years.
Vladislav Sopov
U.Today Editorial Team