The Wall Street Journal: Amazon and Walmart plan to issue their own stablecoin.

As the U.S. stablecoin legislation "GENIUS Act" approaches, many companies are also considering entering the field and issuing their own stablecoins (Stablecoin). Among them, the two major retail giants in the U.S., Amazon (Amazon) and Walmart (Walmart), are reportedly considering issuing their own U.S. dollar stablecoin to simplify e-commerce transaction processes and payment costs.

Two retail giants are considering the issuance of stablecoins, with Shopify taking the lead in integrating USDC payments.

According to a report by The Wall Street Journal on June 14, Walmart and Amazon are evaluating the development of a "brand-specific" stablecoin program, which will adopt a model pegged to the US dollar, providing it as a payment tool for their users. However, so far, neither company has responded to this.

Amazon's total revenue for 2024 is expected to reach $638 billion, with e-commerce sales projected to hit $448.64 billion. Meanwhile, Walmart's global revenue for the fiscal year 2025 is estimated at $680.99 billion, with global e-commerce sales expected to exceed $120 billion. If the two major retailers launch their own stablecoins, it could not only speed up and reduce the cost of the payment process for users, but also potentially redirect the massive cash flow that currently goes through the banking system directly to their own payment platforms, further weakening the intermediary role of banks.

Another global e-commerce platform, Shopify, has also announced a partnership with Coinbase to launch a new business payment protocol (Commerce Payments Protocol). This protocol operates on the Base chain and uses the stablecoin USDC as the medium of transaction, seizing the opportunity in the blockchain payment application market.

(Shopify and Coinbase have partnered to launch the Commerce Payments Protocol: Blockchain payments enter physical commerce)

The 《GENIUS Act》 remains crucial and is now entering substantial deliberation.

According to reports, the U.S. Securities Depository Trust Company (DTCC) stated on 5/15 that stablecoin (Stablecoin) is the best choice for real-time collateral settlement, which can modernize the traditional financial system and significantly simplify operational processes, representing a major upgrade opportunity for the entire financial market.

However, whether these technology and e-commerce companies will issue stablecoins depends on the legislative progress of the stablecoin bill "GENIUS Act", which passed a procedural vote in the Senate at 68 to 30 on 6/11 Eastern Time (Procedural vote) and is ready to enter the deliberation stage.

Overall, from Walmart and Amazon to Shopify, and then to major institutions, stablecoins have become the next wave of "payment revolution" in the eyes of mainstream financial and tech e-commerce giants. Whether all of this can take off depends on the "GENIUS Act," which aims to set the regulatory tone for stablecoin applications.

( The "GENIUS Act" has entered substantive review! The U.S. Treasury Secretary praises: the stablecoin market will exceed 2 trillion USD within three years )

This article Wall Street Journal: Amazon and Walmart plan to issue their own stablecoin, first appeared in Chain News ABMedia.