Multinational retail corporation Walmart and American tech giant Amazon plan to launch their stablecoins. These merchants aim to shift the high volume of cash and transactions by saving substantial amounts in fees.
According to a WSJ report and people familiar with the story, the retailers are holding off on final decisions as they await the outcome of the Genius Act, a bill aimed at creating rules for stablecoins. The legislation recently cleared another procedural step but still requires passage in both the Senate and the House.
In recent months, merchant trade groups have intensified their meetings with lawmakers, advocating for the approval of the Genius Act. The trade group unveiled a regulatory framework for stablecoins, offering an alternative payment method for merchants. The development could significantly reduce expenses and create competition against Visa and Mastercard.
Tech Giants Plans to Change the Narrative
The report further revealed that with stablecoins, merchants could avoid the traditional payment system that generates high annual costs. These include interchange fees tied to card-based consumer transactions.
Meanwhile, Walmart has maintained a longstanding interest in expanding into financial services, seeking to capitalize on its vast customer base and sizable workforce. In recent years, the company has advanced its efforts through the development of its dedicated fintech division.
Additionally, the launch of stablecoins could cause widespread concern among financial institutions. Lately, other tech giants have also been exploring ways to integrate stablecoins into their transactions.
Big Firms Plan to Integrate Stablecoin
Recently, China’s largest internet financial company, Ant Group, plans to secure stablecoins in major markets, including Singapore and Hong Kong. The move aims to strengthen the firm’s blockchain business.
Like Ant, leading tech giants such as Apple, Google, and X (formerly Twitter) are also interested in integrating stablecoins to reduce global payment costs and enhance efficiency. Notably, the decision by Amazon and Walmart to launch a stablecoin comes at a time when interest in the crypto asset is surging.
In the past, stablecoin issuers Tether and Circle have remained at the top. Earlier in May, Tether launched its USDT on the Kai blockchain to boost the adoption of stablecoins in Web3 in Asia. By using Kaia’s fast layer-1 blockchain, the deployment is designed to enable a broad spectrum of applications, including in-app transactions, cross-border payments, and decentralized finance (DeFi) services.
Circle also disclosed that it launched its native USDC on Sonic Labs, an Ethereum Virtual Machine (EVM) layer-1 blockchain. Circle’s customers are allowed to mint and redeem USDC 1:1 directly from the stablecoin issuing company.
Ephraim Emmanuel | September 22, 2026
Jonathan Agozie | September 21, 2026
