Walmart and Amazon May Launch Their Own Stablecoins, But a Key Senate Vote Stands in the Way

Key Points:

• Walmart and Amazon are considering stablecoins to cut payment costs.

• Their plans depend on the GENIUS Act passing in Congress.

• More companies like Ripple and Shopify are adopting stablecoin payments.

Walmart and Amazon are reportedly considering launching their own U.S. dollar-backed stablecoins, according to sources cited by The Wall Street Journal.

These plans aim to cut costs, speed up payments, and reduce reliance on traditional banking systems.

The timing of these discussions aligns with growing interest among U.S. companies in blockchain-based payments. However, any move toward launching stablecoins may depend on upcoming legislation in Washington.

Lawmakers are debating the GENIUS Act, a bill designed to create clear federal rules for fiat-backed stablecoins. The U.S. Senate recently advanced the bill, and it will face a final vote on June 17. If approved, the legislation will move to the House of Representatives, where a separate version is being reviewed. Both chambers must agree on a single version before the bill becomes law.

The GENIUS Act would require stablecoin issuers to follow strict rules on backing their tokens with cash or other safe assets and to comply with anti-money laundering laws. Supporters of the bill argue that it could help modernize payments while reducing risks to the financial system.

Stablecoins have already gained traction in the private sector. Ripple launched its own RLUSD token last year, and firms like Shopify have integrated stablecoin payments through partners like Coinbase and Stripe. Tether, the largest stablecoin issuer with $155 billion in circulation, also plans to launch a U.S.-focused version targeting domestic institutions.

Amazon and Walmart have not confirmed the reports. However, if either company moves forward, it could significantly impact traditional payment networks. Amazon reported $638 billion in revenue in 2024, while Walmart’s e-commerce business generated over $100 billion in 2023. Using stablecoins could help them save billions in banking fees.

Experts believe U.S. stablecoin adoption could accelerate if new federal rules are passed. U.S. Treasury Secretary Scott Bessent recently stated that the stablecoin market could grow to over $2 trillion by 2028 with the right regulations.