Walmart Amazon Explore Dollar-Pegged Stablecoins For Payment Efficiency

Walmart and Amazon, two of the largest retail corporations in the United States, are reportedly exploring the possibility of launching their own dollar-pegged stablecoins. This move is aimed at streamlining their payment systems, reducing processing fees, and decreasing their dependence on traditional banking infrastructure. By issuing their own tokens, these companies could potentially shift a significant portion of their daily transactions onto the blockchain, thereby enhancing the efficiency of their payment processes.

According to a report, other major players in the industry, including Expedia Group Inc. and several airlines in the United States, are also considering similar stablecoin initiatives. This trend indicates a growing interest among large corporations in leveraging stablecoins to improve their financial operations.

Amazon's recent decision to opt against holding Bitcoin in its treasury, aligning with tech giants like Microsoft and Meta, suggests a strategic preference for stablecoins. Stablecoins are seen as a more practical and stable option for integrating crypto-like assets into their financial ecosystems. This preference is likely driven by the need for stability and reliability in financial transactions, which stablecoins can provide more effectively than volatile cryptocurrencies like Bitcoin.

Leading stablecoins such as USDT and USDC have already demonstrated their utility in global payments. The circulation of Tether’s USDT recently surpassed $155 billion, highlighting the growing adoption and efficiency of stablecoins as low-cost alternatives to traditional payment methods. This trend is further supported by the interest shown by companies like Uber, which is in the "study phase" of evaluating stablecoins for international transactions. Uber's CEO, Dara Khosrowshahi, has indicated that the company is exploring the use of stablecoins to streamline global payments.

Additionally, e-commerce infrastructure provider Shopify is set to begin allowing merchants to accept payments in USDC starting later this month. This initiative is part of Shopify's efforts to integrate stablecoins in collaboration with Coinbase and Stripe, further emphasizing the growing acceptance and integration of stablecoins in the e-commerce sector.

The total supply of stablecoins currently exceeds $239 billion, held across 150 million wallet addresses. This widespread adoption underscores the potential of stablecoins to revolutionize the way large corporations handle their financial transactions, offering a more efficient and cost-effective solution compared to traditional banking systems.