Amazon and Walmart are reportedly considering launching their own stablecoins or partnering with existing ones, signaling a potential transformation in how consumers pay. With traditional payment systems burdened by soaring credit card fees, both retail giants are exploring digital dollar-pegged tokens to streamline transactions, reduce processing costs, and gain more autonomy over the payment experience.
The timing aligns with growing pressure from retailers over the rising cost of swipe fees, which reached $172 billion in 2023 in the U.S. alone. Legislative momentum is also building in Congress through the GENIUS Act, a bill that would allow non-financial firms to issue stablecoins through regulated entities. This proposed law includes consumer safeguards and aims to formalize the role of corporate-backed digital currencies.
Despite the ambition, these plans are still in an exploratory phase. There are also political and regulatory concerns, including potential requirements for dominant players like Amazon to receive separate approvals. Critics warn of risks to the banking sector, data privacy issues, and possible gaps in fraud protection if stablecoins issued by corporations become mainstream.
Meanwhile, traditional payment giants like Visa and Mastercard saw their stock values dip following the news, as investors weighed the potential disruption. Whether this shift leads to faster and cheaper global transactions or hits resistance from regulators and consumers, Amazon and Walmart’s interest underscores a serious push toward rethinking payment infrastructure.
#Amazon #Walmart #Stablecoin #CryptoNews #DigitalPayments #GENIUSAct #Fintech