Walmart and Amazon are reportedly considering issuing or adopting stablecoins in a move that could upend how billions of dollars in consumer payments are processed — and potentially sidestep traditional banking infrastructure.
Both Amazon and Walmart have held internal discussions in recent months about launching their own digital currencies or partnering with existing stablecoin providers, according to a report in the Wall Street Journal.
Sources told the Journal that Amazon’s discussions remain in the exploratory phase, with some ideas centering on a proprietary coin for use in its online marketplace.
Expedia, the online travel company that allows users to book flights, hotels, car rentals, vacation packages and other services, has also looked into potentially issuing its own stablecoin — as have airlines and other large fims, the Journal reported.
Expedia and the other companies have reportedly considered either issuing their own stablecoin or joining forces with third-party issuers.
The goal is to reduce dependence on credit card networks like Visa and Mastercard, which cost retailers billions annually in transaction and interchange fees.
Stablecoins are a type of cryptocurrency pegged to a government-issued currency, most often the US dollar.
Unlike volatile tokens such as Bitcoin or Ethereum, stablecoins are designed to maintain a fixed value and are backed by cash reserves or short-term US Treasuries.
They allow for instant, low-cost transfers, making them particularly appealing for merchants seeking faster settlement and lower fees — especially in cross-border transactions.
Retailers have long explored alternatives to traditional payment systems. Most efforts, however, have fallen short. But the current push is gaining momentum thanks to growing congressional interest in regulating digital assets.
A bill known as the Genius Act, which would create a legal framework for stablecoin use in the US, recently passed a procedural vote and is advancing through Congress. Passage of the legislation could open the door for merchants to adopt stablecoins more aggressively.
Even if companies like Walmart and Amazon don’t create their own tokens, they’re considering joining a merchant-led consortium that would adopt an existing stablecoin platform. Such a move could allow them to bypass traditional card rails without the regulatory hurdles of building their own currency.
A similar strategy is reportedly under consideration by several of the nation’s largest banks, which are also exploring a stablecoin consortium of their own, according to the Journal.
Retailers say they are motivated not just by the prospect of lower fees, but also by the speed and flexibility stablecoins offer. Traditional credit card payments can take several days to settle, while stablecoin transactions could potentially clear instantly — an advantage for companies with global supply chains or large volumes of transactions.
Trade groups like the Merchants Payments Coalition have stepped up lobbying efforts to get the Genius Act passed. They argue that a regulated stablecoin would introduce long-needed competition in a market dominated by Visa and Mastercard, leading to lower costs for businesses and consumers alike.
Still, skepticism remains. Critics warn of potential security risks and regulatory uncertainty around stablecoins. According to the Journal, Walmart has pushed for an amendment to the Genius Act that would also introduce more competition in the broader credit card market.
Walmart has made no secret of its ambition to expand into financial services. Its fintech unit has been growing steadily, following earlier efforts — including a failed bid in the 2000s to secure an industrial loan charter.
The Post has sought comment from Amazon, Walmart and Expedia.
