- Amazon and Walmart explore stablecoins to cut fees and speed up transactions.
- GENIUS Act clears key Senate vote, setting stablecoin rules for U.S. issuers.
- Banks and DTCC pilot stablecoin use as market eyes $2T growth by 2028.
Amazon and Walmart are considering issuing their own stablecoins, signalling a possible shift in corporate adoption of blockchain-based payment systems. The two retail giants are reportedly in early-stage discussions about launching dollar-pegged cryptocurrencies that would allow them to reduce transaction fees and improve payment settlement speeds by bypassing traditional financial networks.
The plans, which are still under consideration, show broader industry interest in corporate stablecoins. A report by the Wall Street Journal published on Friday showed that these efforts align with similar explorations by companies such as Apple and Airbnb. These developments come as the stablecoin sector experiences huge expansion, driven by evolving regulations and projected market growth.
Regulatory Landscape Gains Clarity with Senate Advancement
The move by Amazon and Walmart coincides with progress in the U.S. regulatory framework for stablecoins. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, aimed at regulating the issuance and use of stablecoins, passed a key Senate vote on Thursday. Lawmakers voted 68–30 in favor of advancing the bill, invoking cloture and preparing it for whole Senate debate and a potential floor vote.
The GENIUS Act would impose clear guidelines on how stablecoins are collateralized and require issuers to comply with Anti-Money Laundering (AML) regulations. Majority Leader John Thune urged congressional members to back the bill, highlighting its importance in supporting financial innovation within the bounds of national oversight. A final Senate vote is expected on June 17.
Financial Institutions and Infrastructure Providers Also Take Interest
Beyond the tech and retail sectors, large financial firms are also examining the stablecoin model. Entities linked to JPMorgan, Bank of America, Citigroup, and Wells Fargo have reportedly discussed launching a joint stablecoin initiative. These institutions are exploring ways to integrate stablecoins into their operations, potentially modernizing their payment infrastructure.
Meanwhile, DTCC Digital Assets published a pilot study in May asserting that stablecoins could serve as an optimal tool for real-time collateral management. The report suggested that such instruments could enhance efficiency in financial transactions by reducing friction in existing systems.
According to estimates by Standard Chartered, the stablecoin market could reach $2 trillion within three years, underscoring the scale of interest across sectors. The ongoing regulatory debate and pilot programs point toward a growing institutional shift toward blockchain-based financial instruments, with outcomes in the U.S. Senate potentially determining the pace of adoption.
