Amazon and Walmart Contemplate Introducing Their Own Stablecoins

US retail giants Amazon and Walmart are reportedly looking into the launch of their own stablecoins, which could revolutionize online payments and help the companies save on transaction fees. The companies are considering creating branded coins or adopting external ones through a merchant-led consortium.

The move could circumvent traditional financial systems, saving anywhere from 1% to 3% per card transaction, a significant amount for companies with high transaction volumes. The decision aligns with other e-commerce companies adopting stablecoin-based systems, like Shopify's plans to integrate USD Coin payments.

However, the execution of these plans depends on the approval of the GENIUS Act, which aims to establish a clear regulatory framework for digital assets in the US. Major US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are also discussing a joint stablecoin venture.