According to a report by the Wall Street Journal, Amazon and Walmart are mulling plans to introduce a US dollar-backed stablecoin. The final decision regarding the stablecoin issuance will largely depend on the progress of the GENIUS Act.

Major retailers like Amazon, Walmart, Meta, and Ant Group are increasingly exploring and launching their own stablecoins, signaling a significant shift in mainstream commerce.

Walmart and Amazon are reportedly exploring their own corporate stablecoins as a customer payment option, which could potentially reduce the billions of dollars the retailers pay in credit transaction fees.