TLDR
- Amazon and Walmart are exploring the launch of their own US dollar-backed stablecoins.
- The goal is to reduce payment processing fees charged by traditional credit card networks.
- Stablecoin transactions can settle almost instantly which helps improve cash flow for large retailers.
- Amazon is in the early stages of planning a coin for use in online purchases.
- Walmart has advocated for an amendment to the GENIUS Act to increase competition in the credit card sector.
Major American retailers, including Amazon and Walmart, are exploring the issuance of U.S. dollar-backed stablecoins to streamline payments. The move could reduce their dependency on traditional credit card networks, which charge high transaction fees. These companies aim to use blockchain-based coins to save costs and access funds more quickly.
Amazon Considers Blockchain Payments for Online Purchases
Amazon is in early discussions about creating a proprietary stablecoin for use on its online platform. The initiative aims to reduce payment processing fees and speed up transaction settlements. Amazon processes a high volume of transactions daily, so stablecoin adoption could significantly improve cash flow.
The company is also evaluating partnerships with stablecoin issuers to ensure a secure and regulated launch. This would allow Amazon to avoid building blockchain infrastructure from scratch while maintaining user trust. However, the project’s progress depends on upcoming federal regulations.
If passed, the GENIUS Act will establish the necessary regulatory clarity for large-scale stablecoin adoption in retail. Amazon is waiting for the U.S. Senate’s final vote, which is scheduled for June 17. Until then, the company will continue internal discussions and evaluate legal frameworks for digital payments.
Walmart Pushes for Stablecoin Use in Retail Operations
Walmart is also considering issuing a stablecoin to reduce reliance on credit card networks like Visa and Mastercard. The company sees digital currency as a way to cut down on interchange fees, which cost merchants billions annually. Faster settlements could also help Walmart manage its supply chains more efficiently.
In addition to supporting the GENIUS Act, Walmart has pushed for an amendment targeting increased competition in the card payment market. This could enhance the appeal of using stablecoins in daily transactions across physical and digital stores. The company remains focused on reducing operating costs through digital finance innovation.
Walmart’s participation could accelerate the adoption of retail stablecoins nationwide. The retail giant continues to work with trade groups advocating for new payment systems and is positioning itself for a potential shift in how U.S. merchants process consumer payments.
Banks and Retailers Align on Digital Currency Strategy
Large U.S. banks such as JPMorgan and Bank of America are also planning joint stablecoin projects to rival existing platforms. These initiatives mirror retailer efforts and highlight growing industry interest in blockchain-based payment alternatives. If passed, the GENIUS Act will also govern these financial institutions.
