Overview

• The Senate cleared a key procedural hurdle for the GENIUS Act and is set to hold a final floor vote imminently.
• Walmart and Amazon have begun exploring private stablecoin designs or partnerships contingent on the Act’s approval.
• Expedia Group, several airlines and major banks including Deutsche Bank and Santander are also investigating corporate stablecoins.
• Proposed tokens would be pegged to the U.S. dollar and backed by cash reserves or short-term Treasuries to maintain stable value.
• Supporters argue these corporate coins could undercut Visa and Mastercard fees while offering near-instant cross-border payments.