Retail titans Walmart and Amazon are reportedly considering the creation of proprietary US dollar-backed stablecoins, marking a potential shift toward broader corporate adoption of blockchain-based payment solutions as regulatory frameworks in the U.S. continue to mature.
According to sources cited by The Wall Street Journal, both companies are evaluating the feasibility of issuing branded stablecoins. Although neither has officially confirmed these plans, the move could significantly reduce their reliance on traditional banking infrastructure and reshape how they manage payment flows.
Amazon recorded an impressive $638 billion in total revenue in 2024, with approximately $447 billion generated from global e-commerce, according to Statista. Meanwhile, Walmart’s online sales exceeded $100 billion in 2023, accounting for nearly 18% of its overall revenue, as reported in August 2024.
Introducing stablecoin-based transactions could streamline payments by reducing fees and improving speed—an appealing benefit for corporations handling billions in transactions annually.
Shopify, another major player in the e-commerce space, has already announced plans to enable USDC payments for its merchants by the end of 2025.
Stablecoin Efforts Could Depend on the GENIUS Act
The potential rollout of stablecoins by Amazon and Walmart may be influenced by the outcome of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act—a legislative effort aimed at defining legal guidelines for stablecoin reserves and enforcing compliance with anti-money laundering standards.
On Thursday, the U.S. Senate passed a procedural vote on the GENIUS Act with a 68–30 majority, moving it closer to a full floor debate. Senate Majority Leader John Thune has called on lawmakers to back the measure, which could become a regulatory turning point for stablecoin adoption.
Support for the bill appears to span party lines, with numerous senators—including several Democrats—voting to advance it.
Meanwhile, discussions around stablecoin development aren’t limited to tech giants. Major financial institutions such as JPMorgan, Citigroup, Bank of America, and Wells Fargo have reportedly explored collaborative efforts in launching a shared digital currency.
Additionally, DTCC Digital Assets, a key player in financial infrastructure, described stablecoins as an ideal tool for real-time collateral management, highlighting their transformative potential in modernizing financial operations.
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