In a move that could reshape digital payments in retail, Walmart and Amazon are reportedly exploring the development of their own U.S. dollar-backed stablecoins, signaling a broader institutional embrace of digital assets as U.S. regulatory frameworks begin to solidify.
According to sources cited by The Wall Street Journal on June 12, both retail behemoths are considering launching brand-specific stablecoins tailored to their customer bases. While neither company has publicly confirmed the initiative, the potential introduction of proprietary stablecoins could reroute billions of dollars in cash flow away from traditional banking partners.
Amazon, which generated $638 billion in revenue in 2024, with approximately $447 billion stemming from global e-commerce, could significantly reduce transaction costs and boost payment efficiency through a blockchain-based system, according to Statista data. Similarly, Walmart’s global e-commerce revenue surpassed $100 billion in 2023, accounting for nearly 18% of its total sales, according to its August 2024 report.
By adopting stablecoin-based payment systems, both companies can benefit from faster, lower-cost transactions while reducing their reliance on conventional banking infrastructure and the associated fees.
This development aligns with a broader trend across the e-commerce landscape. Shopify, another global player in online retail, has already committed to integrating USD Coin (USDC) payments by the end of 2025, further underscoring the accelerating shift toward stablecoin adoption in mainstream commerce.
“We think that stablecoins are a natural way to transact on the internet and worked with Coinbase to develop the commerce payment protocol smart contract that powers this work,”
Shopify CEO Tobi Lutke said in an X post on Thursday.
According to a May report by Wall Street Journal, Several major U.S. banks are reportedly in early-stage discussions to develop a joint stablecoin project amid growing momentum in Washington to establish a regulatory framework for digital assets.
The talks involve banking giants, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. Additionally, companies co-owned by these institutions, such as Early Warning Services, the operator of Zelle, and the Clearing House, are reportedly participating in this initiative.
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