The Wall Street Journal (WSJ) reported that Walmart (WMT) and Amazon (AMZN) are researching stablecoin offers, which might transform payments for the retail behemoths, lower expenses, and improve consumer loyalty.
Amazon and Walmart seek stablecoins
Adoption of digital tokens based on the US dollar (USD) may encourage banks and payment companies like Mastercard and Visa to issue more cash and process more card transactions.
With yearly sales in the billions, Amazon and Walmart are two of the biggest retailers in the world. Sales numbers for Amazon have been increasing over time, and in 2024, the company’s global net revenue is expected to reach $638 billion, according to Statista.
Retail sales, which might be handled with the company’s stablecoin, account for the majority of Amazon’s revenue.
For the fiscal year that concluded in January 2025, the US retail behemoth Walmart’s net revenues came to $122 billion, a rise of over $7 billion over the previous year.
The value of stable currencies, like the US dollar, a basket of assets, or other fiat currencies, is reflected in stablecoins. A digital substitute for cryptocurrencies, which are frequently linked to significant volatility and are therefore less appropriate for routine transactions, is what this asset class seeks to provide.
US politicians push for the GENIUS Act
As the US Senate moves forward with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, interest in the stablecoin asset class is increasing quickly.
Invoking cloture on a substitute amendment to the stablecoin measure, the MPs voted 68–30, opening the door for a final vote that might occur early next week.
Senators Bill Hagerty, Cynthia Lummis, Kirsten Gillibrand, and Tim Scott are the sponsors of the bipartisan bill, which is anticipated to have a major impact on upgrading payment systems in the US and guaranteeing that the US stays at the forefront of financial innovation.
Significant US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, revealed that they were in the early stages of discussions for a combined stablecoin project a few weeks prior to Walmart and Amazon’s interest in stablecoin services.
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