American retail giants Amazon and Walmart are considering the possibility of issuing their own stablecoins. This was reported by The Wall Street Journal on June 13.
Stablecoins are cryptocurrencies with a fixed price. They are pegged to the dollar or another asset like gold.
#amazon and #Walmart , according to WSJ, are considering launching such digital dollars. Their goal is to speed up transactions, reduce fees, and operate without intermediaries like banks and traditional payment systems.
Interest in this idea goes beyond retail. Expedia and several major airlines in the U.S. are already looking in the same direction. For them, this is an opportunity to simplify payments and save on infrastructure.
The largest retailers in the U.S. are ready to launch their own stablecoins
However, the launch of proprietary stablecoins by Amazon and Walmart may also depend on regulatory developments; the companies are closely monitoring the fate of the GENIUS Act, which regulates the stablecoin market. The document has already faced criticism from Democrats.
Large retailers are seriously looking towards stablecoins. They see them as a simple way to speed up transactions and reduce costs. The idea is indeed resonating; according to media reports, Wall Street has already discussed proprietary digital currencies with JP Morgan, Bank of America, Citi, and Wells Fargo. They are discussing the issuance of a unified stablecoin that could simplify transactions between banks and clients.
According to DeFiLlama, the total market volume of stablecoins currently stands at $251 billion. The two largest stablecoins, USDT from Tether and $USDC from Circle, account for over 86% of the market.
PYUSD from fintech giant PayPal currently accounts for only 0.0036%. Meanwhile, $USD1 , a stablecoin from a crypto project associated with Donald Trump, slightly outpaces it with a share of 0.0086%.
