Walmart, Amazon Explore Dollar-Pegged Stablecoin Initiatives in the U.S.

Retail giants Walmart and Amazon are reportedly considering the issuance of their own stablecoins, pegged to the U.S. dollar or other government-backed currencies. The move, detailed in a Wall Street Journal report, could significantly reduce merchant fees and accelerate payment settlements, challenging traditional financial institutions.

The initiative hinges on the passage of the Genius Act, a proposed regulatory framework for stablecoins that recently advanced in Congress. Approval could enable large corporations to adopt or issue stablecoins as an alternative to existing payment systems.

Both companies remain in early-stage discussions, exploring options ranging from private coins to third-party stablecoin partnerships. Walmart, which has long shown interest in financial services, is also advocating for amendments to increase credit-card competition.