Walmart, Amazon Eye Stablecoins to Cut Fees, Sidestep Banks: WSJ

Retail powerhouses Walmart (WMT) and Amazon (AMZN) are exploring the potential launch of their own dollar-pegged stablecoins in the U.S., according to a Wall Street Journal report published Thursday. The effort reflects a growing corporate push to reshape payment infrastructure and reduce reliance on banks and traditional card networks.

The stablecoins would be tied to the U.S. dollar or other sovereign currencies, offering faster settlement times and significantly lower transaction costs. Such a shift could disrupt entrenched financial intermediaries and give retailers greater control over customer transactions.

The initiative reportedly hinges on the outcome of the Genius Act, a bipartisan bill that lays the groundwork for stablecoin regulation in the U.S. The legislation recently cleared a procedural hurdle in Congress, boosting industry hopes for a clearer path to corporate-issued digital dollars.

According to sources cited by the Journal, both companies are in the exploratory phase — weighing either developing their own coins or partnering with existing stablecoin providers.

Walmart, which has previously made inroads into fintech through initiatives like its financial tech startup One, is also pushing for policy changes to increase competition in the credit card industry.

Neither Amazon nor Walmart responded to requests for comment as of press time.