Amazon and Walmart consider digital dollar tokens
Major retailers are exploring stablecoin payments to cut costs and speed up transactions, signalling a shift towards blockchain-based financial systems.
Retail powerhouses Amazon and Walmart are reportedly examining the launch of their dollar-backed stablecoins. As per sources cited by the Wall Street Journal, the move could significantly cut transaction costs, streamline payments, and strengthen their hold on digital commerce.
The interest comes amid a broader industry shift. Tech leaders Apple, Google, Airbnb, and social platform X are exploring stablecoins. The aim is to reduce payment fees and improve international transactions.
X, led by Elon Musk, is pushing to integrate stablecoins into its X Money app, while Airbnb is negotiating to bypass card networks through partnerships with processors like Worldpay.
The GENIUS Act, a proposed law to regulate stablecoins in the United States, is scheduled for a final Senate vote on 17 June. The legislation requires stablecoins to be fully backed and mandates audits for major issuers.
If approved, it could set the tone for global corporate adoption.
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