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Amazon, Walmart developing USD-backed stablecoins

Amazon, Walmart developing USD-backed stablecoins

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Fintech firm Republic is launching blockchain-based rSpaceX tokens, giving retail investors exposure to the value of Elon Musk’s SpaceX without owning actual shares. Grove, a new DeFi protocol focused on institutional-grade credit infrastructure, has emerged from stealth with a $1 billion commitment to tokenized asset strategies. Amazon and Walmart are quietly developing their own USD-backed stablecoins following the U.S. Senate’s passage of the GENIUS Act, signaling a bold challenge to the $143 billion payment processing industry.

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