Walmart and Amazon Eye $14B Cost Cut with Stablecoin Plans as GENIUS Act Vote Looms

Retail Giants Push Into Digital Dollars Amid Regulatory Green Light

Walmart and Amazon are quietly laying the groundwork for launching their own U.S. dollar-backed stablecoins, a move that could dramatically reshape the crypto price index and payments landscape if paired with the passage of the GENIUS Act, a landmark bill set for a Senate vote on June 17. Internal teams at both retail behemoths are evaluating the legal, technical, and operational pathways to issue proprietary stablecoins, though no formal filings or announcements have been made. Sources familiar with the matter say the efforts are motivated by significant financial incentives tied to cutting out traditional payment intermediaries.

At the heart of this push is the staggering $14 billion both companies reportedly shell out annually in card processing fees. The figure stems from their collective net sales—excluding Amazon Web Services—and assumes an average 1.8% interchange fee. Even a modest 1% reduction in these fees could deliver an additional $1 billion in EBITDA for each retailer. By leveraging stablecoins, Amazon and Walmart could enable real-time settlements and remove the friction of the standard 1–3 day settlement window, further improving efficiency across e-commerce, logistics, and supply chains.

The legislative backdrop propelling this momentum is the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, officially designated as S.394. The bill mandates 100% reserve backing in cash or short-term U.S. Treasuries and enforces monthly disclosures. It also provides bankruptcy protections for token holders and introduces tiered oversight, requiring firms managing over $10 billion in assets to undergo both federal and state-level supervision. With bipartisan backing from Senators Bill Hagerty, Cynthia Lummis, and Kirsten Gillibrand, the bill is widely viewed as a turning point for U.S. crypto policy, particularly after the collapse of Meta’s Diem stablecoin ambitions.

For payment service providers and fintech firms, the regulatory clarity offered by the GENIUS Act is seen as essential. A recent survey showed that 85% of industry players consider such legislation critical to stablecoin adoption, while nearly half cite real-time settlement capabilities as the key advantage over traditional payment rails—even more so than cost reduction. Walmart and Amazon’s expansive reach in consumer markets could offer stablecoins instant traction across millions of checkout points, loyalty ecosystems, and even B2B supply settlements.

Markets have already responded sharply. Following reports of stablecoin plans by the two retail giants, Visa and Mastercard shares nosedived on Friday, June 13. Visa dropped 6.35% to $347.83, a $23.57 slide, while Mastercard fell 5.64% to $556.02, down $33.26. The swift declines reflect investor anxiety over the erosion of card networks’ dominance if corporate-issued stablecoins become a normalized part of consumer payments. Analysts acknowledge the threat but also highlight Visa and Mastercard’s capacity to adapt by building blockchain-based rails or aligning with stablecoin issuers to maintain relevance.

Other corporations are paying attention. Travel platform Expedia and several major U.S. airlines are reportedly assessing their own digital dollar initiatives, signaling a broader institutional shift. The trend suggests rising momentum toward privatized financial instruments designed for speed, efficiency, and lower overhead, all while aligning with the emerging regulatory frameworks that could formalize their role in the mainstream economy.

If executed successfully, retailer-issued stablecoins could significantly impact the coin market cap of stable digital assets and further entrench crypto price instruments into daily consumer life. The implications stretch far beyond checkout counters, promising to alter cross-border remittances, loyalty structures, and even the future architecture of monetary systems.

This article has been refined and enhanced by ChatGPT.