Stablecoin adoption threatens American Express's revenue

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American Express stock dropped over 3% on Friday due to concerns about major retailers potentially adopting stablecoins, threatening its revenue. The Wall Street Journal reported that companies like Walmart and Amazon are exploring the use of stablecoins, cryptocurrencies pegged to the dollar, to reduce payment fees. This news caused investor concern about the future of AmEx's merchant fees. The potential impact of stablecoins hinges on the "Genius Act," a proposed law regulating them. If passed, stablecoins could become a cost-effective payment method for retailers and consumers.


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Stablecoin adoption threatens American Express's revenue | News Minimalist