- Walmart and Amazon could save billions yearly by using their own stablecoins for payments.
- The GENIUS Act may soon set the first U.S. law for dollar-backed stablecoins with clear rules.
- Big banks and tech firms are reacting fast to stablecoins with new payment strategies.
The WSJ reported that Walmart and Amazon are considering launching their own U.S. dollar-backed stablecoins for customer payments. According to people familiar with the matter, both retail giants are exploring brand-specific tokens to reduce transaction costs and improve settlement speeds. This development comes amid clearer regulatory guidance in the U.S., especially with the GENIUS Act gaining traction in Congress.
Neither company has officially confirmed their plans. However, stablecoin-based systems could significantly shift how billions of payment flows are processed. Amazon recorded $638 billion in total revenue for 2024, with e-commerce sales hitting $447 billion, Statista shows. Meanwhile, Walmart reported over $100 billion in global e-commerce sales for 2023, accounting for nearly 18% of its total sales.
Stablecoins Offer Lower Costs and Faster Payments
A stablecoin model could allow both firms to bypass traditional banking rails and card networks. Currently, merchants pay up to 3% per transaction in fees to processors like Visa and Mastercard. A proprietary token could help them save billions in annual banking costs.
Besides lower fees, settlements would be nearly instantaneous compared to the standard 1–3 business days using current methods. The move also follows Amazon’s continued research into blockchain payment alternatives. Furthermore, these companies’ massive user bases and digital infrastructures position them to lead in direct-to-consumer stablecoin transactions.
Regulatory Clarity Shapes Next Steps
The reported discussions are being discussed alongside progress on the GENIUS Act in the U.S. Senate. The bill, which cleared a key procedural vote by 68–30, proposes strict requirements for stablecoin issuers. These include full dollar reserves, regulatory oversight, and compliance with anti-money laundering laws.
Senator Bill Hagerty, the bill’s sponsor, stated the legislation would protect consumers and promote dollar-based digital innovation. Majority Leader John Thune urged swift congressional support for the act, which could become the first federal framework for stablecoins.
Walmart is also advocating for fairer terms in the credit card industry. The company supports the GENIUS Act provisions that may reduce Visa and Mastercard’s influence on merchant fees.
Related: Conduit and Braza Launch Fast Stablecoin FX Swaps in Brazil
Banks and Merchants React to Growing Stablecoin Momentum
Major financial institutions are also preparing responses. Banks, including JPMorgan, Wells Fargo, Citigroup, and Bank of America, are reportedly forming stablecoin consortia. In the meantime, Shopify is scheduled to add USDC stablecoin payments by the end of 2025, which is a sign of growing mainstream popularity among online stores. These dynamics imply that the tokens issued by merchants may shortly become fundamental in restructuring payment systems.
