Retail Giants Amazon and Walmart Push Forward with USDC-Compatible Stablecoin Payment Systems

Corporate America''s blockchain ambitions are accelerating as the GENIUS Act progresses through the Senate. The bipartisan legislation, which cleared a crucial procedural vote 68-30, sets clear guidelines for dollar-backed stablecoins with strict reserve requirements and anti-money laundering measures. This regulatory clarity is sparking action from major retailers.

Amazon and Walmart are actively developing proprietary stablecoins for their payment ecosystems, according to sources familiar with the discussions. The potential cost savings are enormous - with Amazon processing $447 billion in e-commerce sales last year and Walmart surpassing $100 billion, even slight reductions in card-processing fees could result in billions in annual savings. More importantly, branded digital currencies would give these retailers unprecedented control over customer spending data and loyalty programs.

The movement extends beyond retail. Shopify has committed to integrating USDC payments by 2025, while a banking consortium including JPMorgan, Bank of America, Citigroup and Wells Fargo is exploring a joint token initiative. The Depository Trust & Clearing Corporation (DTCC) recently confirmed stablecoins'' potential in a May pilot, identifying them as the "ideal instrument" for just-in-time collateral movements.