Walmart Inc (NYSE:WMT, ETR:WMT) and Amazon.com Inc (NASDAQ:AMZN) are exploring launching their own US dollar-pegged stablecoins, a move that could reshape how consumers pay for goods online and in stores, according to the Wall Street Journal.
The retail giants are looking to streamline payment processes and potentially bypass traditional banking systems, with an eye on reducing the billions they collectively spend on credit and debit card processing fees, the report said.
Any move to issue a proprietary digital token would hinge on the passage of the so-called GENIUS Act, legislation currently making its way through Congress that would establish a legal framework for stablecoins in the US. Both companies are reportedly awaiting regulatory clarity before moving forward.
Stablecoins—digital currencies designed to maintain a fixed value relative to traditional currencies like the US dollar—are gaining traction among companies seeking faster and cheaper payment settlement options. But efforts to mainstream them in retail have been constrained by regulatory uncertainty and consumer trust concerns.