Walmart’s Stablecoin Ambitions shake up payment stocks
Walmart Inc. (NYSE:WMT) is one of Best dividend stocks for the bear market.
The company is reportedly considering the idea of creating or using its own stubcoin. These digital tokens allow the transfer of US dollar value through cryptocurrency networks rather than traditional banking systems.
Managers standing in the hypermarket point out items that can be used for wholesale.
For retailers, Stablecoins are attractive because they can significantly reduce payment processing costs by leveraging the speed and efficiency of blockchain technology, but they can potentially bypass large numbers of transactions from major card networks.
Nevertheless, analysts are confident in the resilience of the credit card company. They argue that it is unlikely that stubcoin will soon disrupt consumer-to-business payments, primarily due to regulatory and technical hurdles. In response to the news, Wells Fargo analyst Donald Fandetti said they remain bullish on visas and Mastercard, saying multiple barriers to stubcoin will be a viable alternative to traditional card payments.
Walmart Inc. (NYSE: WMT) has a track record of exploring innovative financial technologies, and according to analyst Harshita Rawat, it’s not uncommon for major retailers to consider alternative payment options. She made the following comments:
“The towing could likely take years and be limited to certain cross-border use cases or some emerging countries (for example, countries with unstable currencies). In the payments from retail consumers to business, stable coins are the solution that is looking for problems in most developed markets: finance/cash management.”
Walmart Inc. (NYSE: WMT) is a solid dividend stock with a 52nd year in a row with dividend growth. The company provided a quarterly dividend of $0.235 per share, and as of June 17th, it has a dividend yield of 0.98%.
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