Amazon and Walmart Stablecoin Plans Face Legal Barriers in the US
Amazon and Walmart are working on stablecoin tasks to improve payment systems. Sources told The Wall Street Journal that both companies are considering introducing their own digital currencies or joining a stablecoin consortium. Their goal is to decrease expenses and prevent intermediaries like Visa and Mastercard. Using stablecoins could help the business process payments directly. Blockchain-based systems allow faster and cheaper transactions by eliminating third-party services.
Retailers Aim to Bypass Traditional Card Networks
The move by Amazon and Walmart to consider stablecoins comes as part of a broader shift in retail. Stablecoins allow merchants to settle transactions almost instantly. Sources close to the matter said both firms are assessing how digital assets can streamline payments at scale. Unlike bank transfers, stablecoin payments do not rely on clearing houses or card processors. Stablecoins also help reduce the risk of chargebacks and processing delays. These features are especially beneficial for large enterprises handling numerous transactions daily.
GENIUS Act Targets Non-Financial Stablecoin Issuers
The United States Congress is reviewing the Guiding and Establishing National Development for US Stablecoins Act, or GENIUS Act. The legislation may prevent non-financial companies from directly issuing stablecoins. The bill has passed committee and is awaiting a full Senate vote. It proposes stringent regulations for stablecoin reserves, issuance rights, and consumer protections. Amazon and Walmart are not chartered banks. Under the current bill, they would not be allowed to issue stablecoins unless they obtain regulatory approval or operate through a banking partner.
Regulatory Agencies Involved in Approval Process
To comply with the GENIUS Act, Amazon and Walmart may need to establish or acquire a financial entity. This entity would require clearance from the Federal Reserve, FDIC, and United States Treasury. Alex Thorn from Galaxy Digital mentioned that the process entails several steps. Currently, neither Amazon nor Walmart has disclosed details about blockchain partners or payment systems involved. There are no filings or licenses listed publicly.
Stablecoin Market Reaches $251 Billion
According to DeFiLlama, the stablecoin market is now valued at over $251 billion. Major tokens include Tether (USDT), USD Coin (USDC), and DAI. A stablecoin from Amazon or Walmart would bring these assets into mainstream retail. Regulatory conditions will likely shape the outcome of any corporate stablecoin launch. Their interest reflects the growing role of stablecoins in payment infrastructure, especially in high-volume retail systems.
