Big Brands Eye Stablecoins Under New Federal Law

What Happened

The passage of the GENIUS Act in July (the first federal framework for regulating stablecoins) has sparked interest from some of America’s biggest companies. According to industry sources, Bank of America, Citigroup, Walmart, Amazon, and payments firm Fiserv are exploring the launch of their own dollar-backed digital tokens.

Stablecoins are cryptocurrencies pegged to the value of a stable asset, typically the U.S. dollar, designed to mitigate the extreme price volatility seen in cryptocurrencies like Bitcoin. Up until now, the lack of a clear national framework has kept many corporations on the sidelines. But the GENIUS Act provides legal certainty on how stablecoins can be issued, backed, and used, opening the door for traditional finance and major retailers to enter the space.

But the path from law to launch is not simple. Experts say companies must still define how their stablecoins will be used, ensure compliance with anti-money laundering and 'know your customer' regulations, decide whether to issue tokens directly or partner with existing providers like USDC, and select between public or private blockchain infrastructure.

Why It Matters

If successful, company-backed stablecoins could transform how money moves in the U.S. By bypassing some of the friction of the traditional banking system, these digital dollars could make transactions faster, cheaper, and more accessible. They could provide scenarios where customers are able to pay for groceries with a Walmart stablecoin or receive a refund from Amazon directly to a digital wallet in seconds instead of days.

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The concept also has potential beyond retail. In banking, stablecoins could speed up cross-border payments and settlements, offering benefits to businesses and individuals alike. For companies, issuing their own digital currencies could build customer loyalty while simultaneously creating new ecosystems for spending and saving.

While there is buzz at the prospect, widespread adoption would require strong consumer trust in the stability, privacy, and security of these tokens. Any breach or misuse of data could undermine confidence not only in the issuing company but in the entire stablecoin market.

How It Affects You

Stablecoins could offer consumers a new way to pay for goods and services both online and in stores. They might lower fees for peer-to-peer transfers, speed up payment processing, and provide more people, especially the unbanked or underbanked, with access to digital financial tools through smartphones.

On the operations side, stablecoins could reduce transaction costs for businesses, as well as improve cash flow and enable instant payments to suppliers or employees. They could also open the door to innovative reward systems, with digital tokens serving as loyalty points redeemable across a company’s ecosystem.

However, there could also be some new considerations for consumers. Transactions could be more traceable than cash, raising privacy concerns. And while stablecoins are designed to hold their value, their stability depends on strong reserves and regulatory oversight, which means trust in the issuer will be essential.

With major corporations now seriously exploring the technology and preparing to pull the trigger, stablecoins may soon shift from niche crypto products to mainstream payment options.

Disclaimers

*Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

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