Amazon, Walmart Join the Crypto Race– Will They Lead the Next Bull Run?

Retail giants Amazon and Walmart are reportedly making relocations towards introducing their own USD-backed stablecoins, according to a current Wall Street Journal report pointing out sources familiar with the matter. Walmart filed a patent for a digital currency back in 2019, created by some as a possible ‘Walmart Coin’, however the project never introduced. Other players like Shopify are currently accepting stablecoins through platforms like Coinbase Commerce and Circle’s USDC, and business like Airbnb, Apple, and even X are apparently in talks with crypto firms to explore similar integrations.

Amazon and Walmart are reportedly planning to dip their toes into the crypto market with the launch of their own stablecoins. Retail giants Amazon and Walmart are apparently making moves towards releasing their own USD-backed stablecoins, according to a recent Wall Street Journal report pointing out sources familiar with the matter. Stablecoin issued by Amazon or Walmart would require to be bulletproof, technically sound, and governed transparently to earn public trust and regulatory approval.

Secret arrangements consist of 100% reserve requirements, meaning stablecoin providers must back every token with U.S. dollars, Treasury expenses, or likewise liquid possessions to ensure complete redemption.