Walmart and Amazon are exploring the launch of their own U.S. dollar-backed stablecoins as the Senate prepares to vote on the GENIUS Act, a landmark bill that would create the first federal regulatory framework for privately issued digital dollars.
The legislation, which mandates full-reserve backing, consumer protections, and oversight, is seen as a turning point for stablecoin adoption. Both retail giants are motivated by the potential to reduce the $14 billion they collectively spend on card processing fees each year.
A 1% cost cut could yield up to $1 billion in additional annual profits. Their entry into the stablecoin space aligns with growing support among financial institutions for regulated digital payments. If the GENIUS Act passes on June 17, Walmart and Amazon could become the first major U.S. retailers to launch compliant digital dollars, potentially transforming how payments work across e-commerce and supply chains.
Former President Donald Trump is pushing for stablecoin legislation by August, driving renewed momentum in the crypto industry. His pro-stablecoin stance has boosted corporate confidence, prompting moves from major players. Ripple has already launched RLUSD, while Wall Street firms like DTCC and top banks are exploring their own fiat-backed stablecoins.
Platforms like Shopify have integrated Circle’s USDC via Coinbase and Stripe, expanding stablecoin use in e-commerce. Market leader Tether is also preparing a U.S.-focused stablecoin for institutional investors. With growing bipartisan support, the U.S. could soon enter a new era of regulated digital dollars.
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