[Regulatory Breakthrough] Amazon, Walmart, and Revolut are seizing the opportunity with stablecoins! Is a global payment reshaping imminent?

Gate news, as the U.S. Senate passed the stablecoin "GENIUS Act", and then President Trump directly "pressured" the House of Representatives, demanding "no delays, no additional clauses", to quickly submit the bill to the White House, the stablecoin craze has officially arrived.

As a leading global digital bank, Revolut has always been engaged in the cryptocurrency industry and will naturally seize this valuable opportunity, as its stablecoin plan has made new progress! According to Decrypt, citing informed sources, this financial technology giant, valued at $48 billion, is actively promoting the development of its proprietary stablecoin and is in talks with crypto-native companies.

This is not an isolated case, with the U.S. Senate passing the stablecoin "GENIUS Act", and then President Trump directly "pressuring" the House of Representatives to "not delay, no clauses", the bill will be submitted to the White House as soon as possible, a wave of stablecoin issuance led by traditional business and financial giants is sweeping - retail giants Amazon, Walmart, travel giant Expedia, etc. have been exposed to consider entry, and Wall Street banks such as Bank of America, JPMorgan Chase, Citigroup, etc. are also gearing up.

Revolut doubles down on crypto, stablecoins become a key piece Headquartered in London, Revolut has become a benchmark for global digital banks, serving a vast network of over 55 million individual and 500,000 business customers worldwide. Following the successful launch of the centralized exchange Revolut X across the EU in 2024, its strategic focus is further shifting towards the crypto space. Sources reveal that issuing its own stablecoin is a key step for Revolut to deepen its crypto ambitions. Although Revolut remains silent on this matter, its spokesperson has clearly stated its long-term commitment to crypto asset services: "Our mission is to become the most trusted and accessible crypto asset service provider in the UK, the European Economic Area, and globally, and we will continue to expand our crypto services with compliance as our priority." Its astonishing valuation of $48 billion (even surpassing the combined market value of TRON and Cardano) also provides a solid backing for its new business.

Non-crypto giants rush in, regulation breaks the ice as a catalyst Revolut isn't alone. The latest Wall Street Journal report reveals a bigger picture: Amazon, Walmart, Expedia, and other multinational giants that seem to have little to do with cryptocurrencies are all evaluating the possibility of issuing their own stablecoins. The central driver of this boom is a major shift in the regulatory environment in the United States. The GENIUS Act, recently passed by the U.S. Senate, establishes a federal-level regulatory framework for stablecoin issuance in the U.S. for the first time. The bill is currently being sent to the House of Representatives for consideration, and President Trump is expected to sign it into law by August. This is a shot in the arm for the stablecoin market, which has long been plagued by compliance. Bank of America CEO Brian Moynihan made it clear back in February that the bank would launch stablecoins as soon as favorable regulations were introduced. The positive attitude of Wall Street indicates that traditional financial forces will be deeply involved in this change.

Why Do Giants Love Stablecoins? Efficiency, Cost, and the Temptation of Earning Interest What is the appeal of stablecoins (a type of cryptocurrency typically pegged to the value of the US dollar)? For the giants, the allure is multiple and direct:

1. Disrupting payment efficiency and costs: For banks and remittance service providers, using stablecoins can significantly reduce payment processing fees and achieve near real-time cross-border payment settlement, which is significantly advantageous compared to traditional financial channels.
2. **Reserve Income: ** Stablecoin issuers need to hold corresponding reserve assets (such as cash in USD, government bonds, etc.). These reserve assets can generate significant income (such as interest), becoming an important source of profit for the issuers. This is precisely the core business model that allows the current stablecoin leaders Tether (USDT issuer) and Circle (USDC issuer) to earn billions of dollars annually.
3. Ecosystem Building and User Stickiness: For platform giants like Revolut, Amazon, and Walmart, having their own stablecoin can be seamlessly integrated into their vast ecosystem, simplifying payment and transaction processes for users within their platform and related scenarios, enhancing user experience and stickiness, and potentially creating new revenue streams.

Controversies and Challenges: Concerns over Data Hegemony and Market Chaos Inevitably, the influx of giants has also raised concerns. U.S. Senator Elizabeth Warren harshly criticized Big Tech's plans to issue stablecoins, warning that it could give rise to monopolistic tools that "track user purchases, exploit data, and crowd out competitors," sparking "data hegemony" controversy. On the other hand, industry experts predict that as the regulatory threshold is lowered and giants enter the market, thousands of new stablecoins could emerge, impacting the $251 billion market landscape currently dominated by USDT and USDC. A fierce battle for market share is inevitable, but what impact will this have on institutional and retail investors? It is not yet known. It is undeniable that regulation is the equivalent of establishing a security fence, which will ultimately benefit stablecoins and the broader crypto market in the long run.

It is worth mentioning that the future growth potential of stablecoins is recognized by many. Currently, the scale of USD-dominated stablecoins is about $250 billion, and market predictions suggest that the market value of stablecoins will reach $1.6 trillion to $3.7 trillion by 2030. A report from Standard Chartered estimates that by the end of 2028, the issuance of stablecoins will reach $2 trillion; Citibank also believes that with regulatory support, in an optimistic scenario, the market value of stablecoins will reach $3.7 trillion by 2030.

Conclusion Revolut's move forward with the stablecoin program is a landmark event for traditional fintech giants to deepen their crypto footprint. The retail giants such as Amazon and Walmart, as well as the eagerness of Wall Street banks, coupled with the regulatory icebreaker of the GENIUS Act in the United States, jointly announced that stablecoins have jumped from the "infrastructure" of the crypto circle to the strategic high ground that global business and financial giants are vying for. A wave of "stablecoin revolution" has arrived, which will profoundly affect cross-border payments, financial services, and even the business ecosystem, bringing about efficiency improvements, cost structure changes, redistribution of benefits, and inevitable regulatory and privacy challenges, which will reshape the future financial landscape. Who will win in this race of hundreds of billions or even trillions of dollars? Let's wait and see.