Walmart, Amazon, and Meta Turn To Stablecoins as Next Frontier in Digital Payments

Retail behemoths Walmart and Amazon are reportedly exploring the issuance of their own stablecoins, aiming to slash billions in transaction costs and potentially redefine the payments ecosystem in the United States. At the same time, Meta is reconsidering the use of stablecoins for cross-border transactions, reviving interest in digital currencies after the collapse of its Diem project.According to The Wall Street Journal, Walmart and Amazon are evaluating the feasibility of issuing their own stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar. These stablecoins would allow the companies to bypass traditional card networks such as Visa and Mastercard, reducing interchange fees and accelerating settlement times, particularly for international transactions. Expedia Group and several major airlines are reportedly considering similar initiatives.Exclusive: Walmart and https://t.co/KUZV6DVpXq have recently explored whether to issue their own stablecoins in the U.S. https://t.co/XnpJBOJa75Stablecoins offer a more stable form of digital currency compared to volatile assets like Bitcoin, making them attractive for merchants handling high transaction volumes. For companies like Amazon, implementing a proprietary stablecoin or supporting third-party alternatives at checkout could represent a significant cost-saving measure.Both Walmart and Amazon are in the exploratory phase, with options on the table ranging from creating private coins to forming partnerships with existing stablecoin providers.Meta, the parent company of Facebook and Instagram, is also back in the stablecoin conversation. The company is in talks with multiple crypto firms to facilitate cross-border payments using stablecoins, according to a Fortune report. This move could help Meta avoid traditional wire transfer fees and offer streamlined payouts to global creators.The company’s new effort follows the failed launch of its Libra (later known as Diem) project, which was abandoned in 2022 after intense regulatory scrutiny. Although Meta has publicly stated that “there is no Meta stablecoin,” its current deliberations suggest a renewed interest in digital assets, particularly under a more crypto-friendly U.S. administration.These corporate moves come amid legislative developments in Washington. The GENIUS Act, a bill that would create a comprehensive framework for dollar-backed stablecoins, recently passed a key procedural vote in the Senate with bipartisan support. The proposed law mandates full reserve backing and regulatory oversight of stablecoin issuers.🚨JUST IN: The Senate will vote on the final passage of the GENIUS Act on Tuesday, time TBD. pic.twitter.com/D9E8wiv4CAHowever, the bill has ignited broader political debates. Over 120 amendments have been proposed, including unrelated measures on credit card fees and presidential trade powers. Walmart, for instance, has lobbied for increased competition in the credit card sector, highlighting its long-standing frustration with current fee structures.Meta’s renewed interest in stablecoins has drawn criticism from lawmakers. Senators Elizabeth Warren and Richard Blumenthal sent a letter to CEO Mark Zuckerberg warning that Meta’s involvement in issuing stablecoins could erode financial privacy, undermine competition, and increase the company’s influence over the U.S. monetary system. The senators demanded transparency on Meta’s consultations and potential lobbying activities, tying the controversy directly to the GENIUS Act’s implications for Big Tech.If enacted, the GENIUS Act could clear the path for major corporations to enter the stablecoin market more freely, potentially ushering in a new era of corporate-managed digital currencies. For companies like Walmart, Amazon, and Meta, the opportunity lies in reshaping their financial infrastructure—reducing reliance on traditional payment networks and offering users seamless, potentially cheaper transaction options.Yet, these ambitions are also likely to face regulatory resistance, especially from those wary of further consolidating power in the hands of tech giants. Whether these stablecoin initiatives gain traction may depend as much on Capitol Hill as on Silicon Valley.