Retail behemoths like Walmart and Amazon are reportedly weighing the launch of their own dollar-pegged stablecoins—or joining a consortium using existing ones. These digital tokens promise faster, nearly fee-free transactions, allowing merchants to sidestep hefty interchange costs imposed by credit card networks like Visa and Mastercard.
The move is timely: U.S. lawmakers are advancing the Genius Act, a bill designed to regulate stablecoins by setting requirements for backing, transparency, and consumer protection. Passage could clear the way for large companies to issue their own tokens, offering both convenience and cost advantages.
While retail leaders consider these digital coins, financial markets are taking note—Visa and Mastercard shares recently slid over 4% amid investor concerns about emerging non-bank payment rails. Even so, analysts caution that consumer adoption may take time, pointing to challenges like rewards programs, provider protections, and the inertia of existing systems.
Should retailers adopt stablecoins at scale, the payoff could be substantial—with lower fees, instant settlement, and new opportunities for loyalty integration and transactional data control. But it's not without risks: technology, regulatory compliance, and consumer trust will all need careful navigation.