The Two Largest Retailers Eyeing Stablecoin Launches

The world’s two largest retailers, Amazon and Walmart, are considering launches of their own stablecoins. This move could significantly alter transaction volumes away from traditional financial systems.

According to reports by The Wall Street Journal, both companies are exploring the strategy due to potential changes brought about by the GENIUS Act—a piece of legislation designed to provide a regulatory framework for stablecoin transactions.

Brand-specific stablecoins could help Amazon and Walmart save billions in transaction fees while enabling instant and transparent payments. This is especially true in cross-border transactions, where high fees and delays are common issues faced by global retailers.

Broader Adoption of Stablecoins

This isn’t limited to just these two giants; other companies like travel company Expedia Group and major airlines are also considering stablecoin launches.

Meta is also working with stablecoin companies on launching its own, focusing primarily on cross-border payments. For example, an Instagram creator could receive international payments in Meta’s stablecoin, bypassing delays and fees associated with traditional payment methods.

Traditional Banks Getting Involved

Finding themselves under pressure from the growing stablecoin market, even more traditional banks are considering their own stablecoins. Societe Generale, a French bank, has already launched a regulated stablecoin backed by euros and plans to follow up with one backed by US dollars.

Reports suggest that major U.S. banks like Citibank, JPMorgan Chase, Bank of America, and Wells Fargo are also exploring the idea, driven by the significant market opportunity. The $250 billion stablecoin space already includes offerings from PayPal and Stripe, and others are likely to follow suit.

Accepting Stablecoins

While some companies are launching their own stablecoins, many are looking into accepting existing ones. E-commerce giant Shopify recently announced that it would accept Circle’s USDC through a partnership with Coinbase. For Shopify, this is driven by the desire to offer secure and efficient payment protocols for its global base of creators.