There’s a potentially major shakeup brewing in the financial tech (fintech) space.
Over the past week, both Walmart and Amazon have quietly signaled plans to explore launching their own stablecoins.
To make sure we’re all on the same page, a stablecoin is a type of cryptocurrency designed to maintain a consistent value – typically $1 – by holding cash or cash-like assets such as Treasuries.
Now, why would Walmart and Amazon be interested in their own stablecoins instead of just using the U.S. dollar as usual? Let me explain.
This post originally appeared at InvestorPlace.