The rumored goal is to give consumers streamlined payment options
Walmart and Amazon are reportedly exploring the idea of launching their own US dollar-backed stablecoins, according to The Wall Street Journal. While neither company has publicly confirmed these plans, sources familiar with the matter say both retail giants are considering creating digital tokens tied to the US dollar, aimed at streamlining payments for their massive customer bases.
If implemented, these stablecoins could allow Amazon and Walmart to reduce reliance on traditional banking systems. The move could also save the companies billions in processing fees by enabling faster and cheaper transactions. Given Amazon’s reported $638 billion in revenue last year—$447 billion of which came from e-commerce—and Walmart’s $100 billion in global online sales in 2023, the financial impact of switching to blockchain-based payments could be significant.
These discussions come at a time when the US is taking steps toward clearer regulation around stablecoins. A key piece of legislation, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, recently advanced in the Senate. The bill aims to establish guidelines for the backing of stablecoins and ensure compliance with financial oversight laws, including those designed to prevent money laundering.
Whether Amazon and Walmart move forward will likely depend on how that legislation progresses. A more defined regulatory environment could encourage large corporations to adopt stablecoin systems without fear of running afoul of federal rules.
Financial institutions are also keeping a close eye on the stablecoin space. Reports indicate that major banks, including JPMorgan, Bank of America, and Citigroup are discussing potential joint stablecoin ventures, signaling that digital currencies backed by traditional assets are gaining traction beyond the tech and crypto sectors.
If approved and launched, Amazon and Walmart’s stablecoins could change how consumers pay for everyday goods, introducing a new layer of convenience and speed to online shopping.
