Two of the world’s biggest retailers, Walmart and Amazon, are exploring the idea of launching their own USD-pegged stablecoins, a move that could reshape how payments work in the U.S. retail space.
According to sources quoted by the Wall Street Journal, both companies have held internal discussions in recent months about how a Walmart stablecoin or an Amazon stablecoin could help them save money on transaction fees and speed up settlement times.
Right now, companies like these pay billions every year to banks and credit card networks. A shift to blockchain-based crypto payment solutions could reduce or even eliminate many of those costs.
But they aren’t moving just yet. The plans are tied closely to progress on the GENIUS Act , a bill that aims to give regulatory clarity for stablecoins in the U.S. If the law passes, it would open the door for big companies to issue digital dollars under clear rules.
There’s also talk of a broader merchant stablecoin consortium, where large retailers would either team up to launch a joint token or agree to use the same blockchain infrastructure.
The idea is pretty straightforward: by creating their own payment system, Walmart and Amazon could stop relying so much on banks and credit card networks — and do things their own way.
They’re also looking at whether to use existing stablecoins like USDC or PayPal USD. Having their own stablecoin would give Walmart and Amazon more control, not just over payments, but also how they handle things like refunds and loyalty points.
If they move forward, it could change how big retailers think about digital money. And if these two jump in, it’s likely others like Target or Costco will want in too. But for now, it all comes down to whether U.S. lawmakers can finally set some clear ground rules.
