Two of the world's most influential retail giants, Walmart and Amazon, are reportedly considering launching their own stablecoins backed by the US dollar, as part of an effort to modernize their payment systems and reduce their dependence on traditional financial channels.
According to recent reports from local media outlet WSJ, both companies are exploring this initiative, given that stablecoins could help reduce costs, speed up settlement times, and eliminate transaction friction.
The goal would be to shift part of the enormous volume of payments they process to decentralized infrastructure, which could translate into multimillion-dollar savings in banking and card fees.The initiative comes amid a legislative push for stablecoins in the United States. This week, the Senate approved moving toward final debate on the GENIUS Act, with 68 votes in favor and 30 against.
The final Senate vote is expected next week, and if approved, the bill will still require approval in the House of Representatives and the president's signature to become law. US President Donald Trump has already made his support for GENIUS clear. In a video presented yesterday at Coinbase's State of Crypto Summit 2025 event, the president highlighted his administration's efforts to push the law through Congress.
Public figures such as Senator Mark Warner, attorney John Deaton, and Coinbase CEO Brian Armstrong agree that the launch of this project is key to guiding future regulations in the sector.
Other major companies have also explored stablecoin initiatives. For example, PayPal launched its own US dollar-pegged stablecoin, PayPal USD (PYUSD), in 2023. Similarly, Visa and Mastercard have conducted pilot projects to integrate stablecoins into their payment networks, with the goal of optimizing cross-border settlements.
With the GENIUS Act, which proposes regulations for issuers of dollar-pegged stablecoins and promotes their adoption, more companies are expected to be interested in issuing or offering stablecoins, as has been reported by Walmart and Amazon. However, it should be noted that, for now, these companies have not confirmed this initiative in official announcements.
Correspondingly, Dara Khosrowshahi, CEO of Uber, the global ride-hailing app, revealed this month that his company is exploring the integration of stablecoins. "They're very promising, especially for global companies," he said, adding that they can reduce the costs of moving money between different countries.
Currently, the stablecoin market has an estimated market capitalization of over $250 billion, reflecting steady growth driven by its adoption in global transactions. The Tether token (USDT) is the leading project in this segment, with a market capitalization close to $143 billion, equivalent to over 60% of the market.
