Amazon and Walmart may launch their own stablecoin

Amazon and Walmart may launch their own stablecoins

A bipartisan initiative in Congress gives America's largest retailers a new reason to get interested in blockchain technology.

With the passage of the GENIUS Act by a vote of 68-30 in the Senate, the path to federally approved, dollar-backed stablecoins suddenly looks a lot smoother. Advocates say the focus on rigorous reserve audits and anti-money laundering checks is exactly what big corporations have been waiting for.

Behind the scenes, Amazon and Walmart are working on brand-specific tokens that could be used at their checkout registers in milliseconds, according to people familiar with the talks. The numbers explain the urgency: Amazon’s platform handled about $447 billion in e-commerce sales last year, while Walmart’s online sales topped $100 billion. Even a fraction of the card processing fees would save billions annually and give both companies tighter control over customer spending data.

The momentum isn’t limited to retail. Shopify has already committed to adding USDC payments by the end of 2025, and a banking consortium involving JPMorgan, Bank of America, Citigroup, and Wells Fargo is also discussing a joint token. Meanwhile, post-trade giant DTCC called stablecoins “an ideal vehicle” for “just-in-time” collateral during a pilot study in May.

None of these projects will take off until lawmakers finish negotiating the final GENIUS Act and the House of Representatives gives its approval. But if the bill reaches the president’s desk, expect a real panic: big-box retailers, banks, and fintech companies seem ready to replace cards with blockchain the moment Washington gives them a set of rules.

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