According to The Wall Street Journal, retail giants Walmart and Amazon are exploring the possibility of creating their own stablecoins pegged to the US dollar to optimize payments and reduce transaction costs. This move could save billions of dollars by bypassing traditional payment systems like Visa and Mastercard, which charge 1-3% per transaction.
Both companies aim to accelerate settlements, especially for international transactions, as stablecoins allow for instant payment processing, reducing delays of 1-3 days typical for card transactions. Walmart is also lobbying for amendments to the GENIUS Act to enhance competition in the credit card sector.
The implementation of these plans depends on the passage of the GENIUS Act, which will establish a regulatory framework for stablecoins. The bill has already overcome procedural hurdles, and the final vote in the Senate will take place on June 17, 2025.
Amazon is considering creating its own coin for online purchases, while Walmart and other companies like Expedia are also exploring a consortium approach. These initiatives could change the financial landscape.
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