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Update June 13, 10:30 am UTC: This piece has been revised to incorporate a segment on the GENIUS Act.
Walmart and Amazon are allegedly contemplating initiatives to launch their own US dollar-pegged stablecoins for consumers, indicating a broader institutional adoption of stablecoins amidst enhanced regulatory clarity in the United States.
The two retail behemoths are considering the creation of brand-specific stablecoins, as per sources acquainted with the situation, The Wall Street Journal stated on Friday.
Although neither company has verified the stablecoin intentions, a stablecoin payment infrastructure for one could redirect billions in cash flow from their banking affiliates.
Amazon reported $638 billion in annual revenue for 2024, with worldwide e-commerce sales approximating $447 billion for the platform, according to Statista data revealed.
Walmart’s global e-commerce sales exceeded $100 billion in 2023, making up 17.8% of the company’s total annual sales, as it announced in August 2024.
A payment rail based on stablecoins would facilitate quicker and cheaper transactions, assisting such large firms in saving billions in banking charges.
Global e-commerce powerhouse Shopify has already confirmed its intention to implement USDC (USDC) payments for its clients before the conclusion of 2025, as Cointelegraph reported on Friday.
Cointelegraph has reached out to Amazon and Walmart for confirmation regarding their stablecoin launch strategies.
Related: Jack Ma’s Ant International seeks stablecoin licenses in Singapore, Hong Kong
Walmart, Amazon stablecoin plans may depend on the GENIUS Act
The plans for stablecoin issuance by the retail titans will likely depend on the outcome of an essential piece of legislation, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
This bill aims to establish explicit guidelines for stablecoin collateralization and require adherence to Anti-Money Laundering regulations, which may enhance institutional stablecoin adoption in the largest economy globally.
The US Senate advanced the GENIUS Act with a 68–30 vote on Thursday, with Majority Leader John Thune urging Congress members to support the legislation.
Most senators, including several from the Democratic party, voted to invoke cloture for the bill, preparing it for discussion and a full vote on the floor before potentially forwarding it to the House of Representatives for additional examination.
Related: Bitcoin approaches a new high as Trump asserts US-China trade ‘deal is finalized’
Entities associated with financial leaders such as JPMorgan, Bank of America, Citigroup, and Wells Fargo have also been reported as having discussed a possible collaborative stablecoin launch.
DTCC Digital Assets also perceives stablecoins as the “ideal” financial tool for real-time collateral management, which could modernize and simplify the financial ecosystem, as per a pilot study revealed by Cointelegraph on May 15.
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