Some of the biggest merchants are exploring how to issue or use stablecoins, potentially shifting the high volumes of cash and card transactions that they handle outside the traditional financial system and saving them billions of dollars in fees. Walmart, Amazon and other multinational giants have recently explored whether to issue their own stablecoins in the U.S., according to people familiar with the matter. Expedia Group and other large companies such as airlines have also discussed potential efforts to issue stablecoins, some of the people said. A move to launch a crypto-based payments system by Walmart or Amazon that bypasses the traditional payments system would send shivers through the nation’s banks and card-network giants. With vast networks of customers and employees, troves of data and far lighter regulations, retail and technology companies have long been viewed as particular threats to banks, including regional and community lenders. Stablecoins are currently used to store cash or purchase other cryptocurrency tokens. They are supposed to maintain a one-to-one exchange ratio with dollars or other government currencies, and are backed by reserves of cash or cashlike assets such as Treasurys.

Full exclusive : Walmart, Amazon, and Expedia have recently explored issuing or using stablecoins in the US to potentially save fees from cash and card transactions.