According to (The Wall Street Journal), U.S. retail giant Walmart and e-commerce platform Amazon are evaluating the issuance of their own dollar stablecoin to reduce friction in the payment process, speed up settlement, and reduce reliance on traditional financial clearing systems, thereby significantly lowering transaction costs.
Retail giants are also eyeing this big business.
The plans of these two commercial giants reflect that global enterprises are gradually stepping into the field of crypto finance. Recently, more and more companies are exploring the feasibility of issuing stablecoins in the U.S., but whether this can be realized still depends on the federal government's final direction on stablecoin regulatory policies.
The U.S. Senate passed the 'closure of debate' procedure for the (GENIUS Act) with a vote of 68 to 30 this Wednesday, indicating that the lengthy deliberation is about to end. The bill is expected to be submitted for a full vote on June 17. Once passed by the Senate, it will be sent to the House of Representatives for review. The House is currently discussing another version called the (STABLE Act), and the legislative process can only be completed after reconciling the differences between the two chambers.
The stablecoin market is highly competitive.
In the past year, the U.S. securities clearing company (DTCC) has been reported to be considering issuing its own stablecoin in collaboration with several major Wall Street firms; Ripple launched its stablecoin RLUSD last year; Shopify has also partnered with Coinbase to integrate Circle's USDC into its global payment network, promoting the practical application of stablecoins in retail.
Data shows that the total market value of global stablecoins has surpassed $250 billion, with the leading Tether (USDT) circulating at $155 billion. U.S. Treasury Secretary Scott Bessent recently stated that if the relevant bill passes smoothly, the U.S. stablecoin market size is expected to grow to $2 trillion by 2028.