🪙 The Stablecoin Race is Heating Up!
From banks to major retailers, everyone wants to launch their own stablecoin.
Hey Thinkers 💡
This week, stablecoins have firmly taken center stage.
According to the Wall Street Journal, both Amazon and Walmart are exploring launching their own stablecoins. While details remain limited, this represents a seismic shift in how major corporations view digital currency infrastructure. However, there's a catch—under the proposed GENIUS Act, non-financial public companies are explicitly prohibited from issuing stablecoins. So, how these two retail giants plan to move forward remains to be seen.
This comes just a week after Uber CEO Dara Khosrowshahi said the company is looking into stablecoin integration to lower global payment costs, Circle going public on the NYSE, and Fortune reported that tech giants including Apple, X (formerly Twitter), Airbnb, and Google Cloud are actively exploring stablecoin adoption.
And it’s not just Big Tech—Bank of America is making its move.
On Wednesday, BofA CEO Brian Moynihan confirmed that the bank—the second largest in the U.S.—is working on a dollar-pegged stablecoin, being developed internally alongside other industry participants. Moynihan had hinted at this in February and reaffirmed that regulatory clarity like the GENIUS Act is essential to truly unlocking the business potential of these assets.
“If they get the GENIUS Act or the Stablecoin Act—or anything like that—passed, and then they get the markets infrastructure enablement piece, that will allow us to figure out whether there's really a business proposition,” said Moynihan.
🏛️ GENIUS Act: Final Countdown
All eyes now turn to Tuesday, when the U.S. Senate will vote on the final passage of the GENIUS Act. Senator Bill Hagerty confirmed this via X. If it passes, the bill goes straight to President Trump, who is expected to sign it immediately.
A successful vote would be historic for the crypto industry, putting the U.S. on a fast track to stablecoin leadership—and enabling further use of U.S. Treasuries as reserves backing these digital dollars, reinforcing the USD’s global dominance.
💳 Coinbase x Shopify = More Stablecoin Adoption
On Thursday, Coinbase announced new USDC products, including a major partnership with Shopify. Merchants using Shopify Payments can now easily accept USDC payments on Base, bringing commerce onchain and pushing stablecoin usage further into the mainstream.
📉 Bitcoin Market Update: Cooling Off Before the Next Leg
Bitcoin has pulled back, and signs point to a further dip before a rebound. As mentioned in last week’s newsletter, Bitcoin entered the overbought RSI zone and is now retracing toward potentially oversold territory.
This is normal—and healthy—in a bull market.
Analyst Blockchain Backer recently illustrated how current market patterns mirror historical fractals, showing that corrections like this are part of the longer-term structure.
Key points to remember:
No key support levels have been invalidated
Global liquidity continues to rise
The DXY remains weak
Market sentiment is in fear zone, far from euphoric
The Pi Cycle Top Indicator has not signaled a market top
Stay patient. Stay informed. The bull market is still intact.
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-Tony