In this episode of GRC In Focus, host Asad Bukhory explores how trillion-dollar corporations like Amazon and Walmart are transitioning from money users to money creators through corporate stablecoins, and the massive governance, risk, and compliance implications this creates. While these digital currencies could eliminate billions in payment processor fees and create captive economies, they raise critical concerns about economic neo-feudalism, regulatory capture, and systemic financial risks. Asad examines the antitrust implications of corporate-controlled currencies, privacy and surveillance risks from complete transaction visibility, and the potential for correlated stress across Treasury-backed reserves. The episode covers regulatory loopholes, geopolitical tensions, and operational vulnerabilities while providing essential questions for board members navigating this uncharted territory. As major corporations prepare to issue their own USD-backed stablecoins, this analysis is crucial for understanding the shift toward corporate monetary sovereignty and its broader implications for financial stability, consumer protection, and competitive markets.