Major retailers Walmart and Amazon are reportedly exploring the issuance of their own U.S. dollar–pegged stablecoins, or partnering with existing platforms, to reduce reliance on card-based payments and cut transaction fees (axios.com).
At scale, interchange fees can cost retailers billions. By accepting stablecoins, these retailers could settle transactions instantly and bypass traditional payment networks. Reports from Axios and PYMNTS note that Congressional movement—such as the Genius Act—is providing a regulatory window for such initiatives (pymnts.com). Visa and Mastercard shares dropped 4–5% in response, suggesting market concern about retail-led disruption (marketwatch.com).
The Wall Street Journal reports that Walmart and Amazon may either launch proprietary tokens or join a merchant consortium using tailored digital payment rails (morningbrew.com). They plan to incentivize adoption through rewards or discounts, though convincing consumers outside of loyalty ecosystems remains a hurdle (axios.com).
Why It Matters:
- Could fundamentally shift retail payments infrastructure by bypassing incumbents.
- Strong legislative support may enable large retailers to enter stablecoin issuance.
- Sets precedent for non-financial companies to shape next-gen payment innovations.
