Walmart and Amazon investigate stablecoins, allowing crypto for retail giants
Walmart and Amazon may provide stablecoins, reports The Wall Street Journal.
Digital tokens connected to the US Dollar might simplify transactions, save payment processing costs, and boost consumer loyalty.
After passing a replacement amendment, the US Senate will vote on the GENIUS Act early next week.
According to The Wall Street Journal, Walmart (WMT) and Amazon (AMZN) are investigating stablecoin offers to modernize payments, save expenses, and boost consumer loyalty.
Walmart and Amazon want stablecoins
Digital tokens connected to the US Dollar (USD) might boost bank cash flows and Mastercard and Visa card transactions.
Amazon and Walmart sell billions of dollars annually. Amazon's net revenue rose to $638 billion in 2024, according to Statista.
Amazon's stablecoin might handle retail purchases, which account for most of its income.
Walmart's fiscal year ending January 2025 net sales were $122 billion, up $7 billion from the year before.
Stablecoins mimic stable currencies like the US Dollar, a basket of assets, or other fiat currencies. This asset class intends to provide a digital alternative to cryptocurrencies, which are volatile and unsuitable for daily transactions.
US legislators support GENIUS Act
As the US Senate advances the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, stablecoin interest is rising significantly.
The MPs invoked cloture on a stablecoin bill replacement amendment 68–30, setting up a final vote early next week.
The bipartisan initiative, backed by Senators initiative Hagerty, Cynthia Lummis, Kirsten Gillibrand, and Tim Scott, is intended to modernize US payment rails and keep the US at the forefront of financial innovation.
After JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo disclosed early-stage negotiations regarding a cooperative stablecoin initiative few weeks ago, Walmart and Amazon expressed interest.
