Walmart and Amazon are exploring plans to issue their own U.S. dollar-backed stablecoins to reduce payment friction, speed up settlement, and lower costs tied to traditional financial rails, The Wall Street Journal reported on Friday.
Both companies are among a growing number of multinationals eyeing stablecoin issuance in the U.S. Any launch will likely depend on pending federal policy decisions.
Policymakers on Capitol Hill have advanced the GENIUS Act, which aims to create a uniform framework for fiat-pegged cryptocurrencies. After initial Democratic opposition, the bill is slated for a final Senate vote on June 17. If passed, it would be sent to the House of Representatives, where a separate version is currently under consideration. The House and Senate must reconcile their competing approaches before stablecoin rules can become law.
President Donald Trump has prioritized clarity on crypto and is pushing for stablecoin legislation by August. His administration’s pro-stablecoin stance has accelerated corporate adoption. Ripple debuted RLUSD last year, while Wall Street clearinghouse DTCC and several major banks have reportedly discussed fiat-backed stablecoins launches. Platforms like Shopify have already partnered with Coinbase and Stripe to integrate Circle’s USDC. Market leader Tether, with $155 billion in circulation, also plans to issue a U.S.-specific stablecoin targeting domestic institutional investors.
Meanwhile, the stablecoin market recently surpassed $250 billion, according to The Block’s data dashboard. U.S. Treasury Secretary Scott Bessent said the sector could surpass $2 trillion by 2028 with legislative support.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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