Amazon, Walmart Shares Move Down on WSJ Report of Companies Exploring Issuing Stablecoins

By Denny JacobShares of Amazon.com and Walmart edged down in premarket trading following a report in The Wall Street Journal that said they're among the companies exploring how to issue or use stablecoins.On Friday shares of Amazon ticked down 2% to $208.91 in premarket trading, while Walmart ticked down 0.4% to $94.45.The Journal reported that the companies, and other multinational giants, have recently explored whether to issue their own stablecoins in the U.S., citing people familiar with the matter.The potential change would shift the high volumes of cash and card transactions that they handle outside the traditional financial system and save them billions of dollars in fees.Stablecoins are currently used to store cash or purchase other cryptocurrency tokensWrite to Denny Jacob at [email protected]