By Emma Whitaker 
In a potential game-changer for the financial world, retail giants Walmart and Amazon are exploring the issuance of their own stablecoins, The Wall Street Journal has learned. This move could sideline banks and traditional payment processors, slashing billions in transaction fees and speeding up payments.
The push comes as the Senate took a step toward regulating stablecoins with a procedural vote in late May on the “Guiding and Establishing National Innovation in U.S. Stablecoins Act” (GENIUS Act). The bill’s fate, still pending in Congress, will shape how companies can roll out their own digital currencies.
Sources tell the WSJ that major U.S. corporations, including Walmart, Amazon, Expedia Group, and several airlines, are weighing stablecoin strategies. By issuing their own digital currencies, these companies could bypass traditional financial systems for cash and credit card transactions, saving billions in processing costs.
The sheer scale of Walmart and Amazon’s operations could rattle banks nationwide if they pivot to stablecoins. With massive customer bases, extensive employee networks, and access to vast troves of data, these retail and tech giants face fewer regulatory hurdles than banks, positioning them as formidable threats—especially to regional and community lenders.
Stablecoins, typically pegged 1:1 to the U.S. dollar or other fiat currencies, are backed by cash or cash-equivalent assets like U.S. Treasury reserves. Merchants currently use them as a store of value or to trade for other digital tokens, but their potential for mainstream payments is gaining traction.
The GENIUS Act’s final passage will be critical in determining whether retailers move forward with stablecoins. If approved by both the House and Senate, it would provide a clear regulatory framework for corporate-issued digital currencies.
Switching to stablecoins could streamline payment systems, which often take days to settle. For businesses with global suppliers, the faster processing times are especially appealing.
For years, merchants have chafed at the dominance of Visa and Mastercard in credit card transactions, seeking alternatives that often fizzle out. Amazon, for instance, is in early talks about issuing its own stablecoin for online purchases or partnering with a consortium led by a single stablecoin issuer, according to sources.
If retail and tech giants jump into the stablecoin game, it could reshape the payments landscape, leaving traditional financial institutions scrambling to keep up.
Andreas Lundberg 
Dale Chaucer