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Retail giants Walmart and Amazon are reportedly evaluating digital currencies to streamline e‑commerce and boost cross‑border transactions.
Walmart and Amazon are reportedly mulling plans to issue their own US dollar-backed stablecoins for customers, signaling wider institutional stablecoin adoption amid improving regulatory clarity in the United States.
The two retail giants are mulling the development of brand-specific stablecoins, according to people familiar with the matter, The Wall Street Journal reported on Friday.
While neither of the companies confirmed the stablecoin plans, a stablecoin payment system for either could divert billions in cash flow from their banking partners.
Amazon reported $638 billion worth of annual revenue in 2024, with global e-commerce sales reaching about $447 billion for the platform, Statista data shows.
Walmart’s global e-commerce sales surpassed $100 billion in 2023, accounting for 17.8% of the company’s yearly total sales, it reported in August 2024.
A stablecoin-based payment rail would offer faster and cheaper transactions, helping such large companies save billions in banking fees.
Global e-commerce giant Shopify has already confirmed plans to integrate USDC (USDC) payments for its users before the end of 2025, Cointelegraph reported on June 13.
Related: Jack Ma’s Ant International eyes stablecoin licenses in Singapore, Hong Kong
This is a developing story, and further information will be added as it becomes available.
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