According to a report from the Wall Street Journal, retail behemoths Amazon and Walmart are contemplating the issuance of their own USD-backed stablecoins. This development coincides with the U.S. Congress gearing up for a crucial vote on the GENIUS Act, legislation aimed at regulating stablecoins in the United States.
The integration of stablecoin payment systems could facilitate faster and more cost-effective transactions, potentially resulting in billions of dollars in savings for these major corporations by reducing banking fees.
In 2019, Walmart explored the launch of its proprietary token, although the initiative was ultimately put on hold. Meanwhile, Amazon is actively investigating blockchain technology, having conducted a trial for escrow payments in e-commerce. Other prominent companies, such as Shopify, are also beginning to adopt stablecoin payment solutions, reflecting a growing interest among small and medium-sized enterprises in this space.
Apple, X, Airbnb, and Google Explore Stablecoin Options
Recent reports indicate that major technology companies, including Apple, X, and Google, are investigating stablecoins as a means to lower transaction fees and streamline cross-border payments. Google has already completed two stablecoin transactions, taking the lead in this initiative.
In a similar vein, Airbnb is negotiating with Worldpay to circumvent high fees associated with credit card processors like Visa and Mastercard. Additionally, the social media platform X is considering integrating stablecoins into its X Money app to expand peer-to-peer payment options. Elon Musk has highlighted the importance of enhancing X’s payment features, with the company already obtaining money transmitter licenses across the United States. Shopify has also announced its intention to incorporate USDC payments for its users by year-end, while Circle, the issuer of USDC, recently celebrated a successful IPO on the NYSE.
Apple, X, and Airbnb are in early talks with crypto firms to integrate stablecoin payments.#apple #google #stablecoinhttps://t.co/gmEbx3i4PN
— Finance Newso.com (@Finance Newso) June 6, 2025
Final Vote on GENIUS Act Scheduled for June 17
The U.S. Senate is poised to conduct a final vote next Tuesday on the GENIUS Act, which proposes a comprehensive regulatory framework for stablecoins. Key provisions of the bill require issuers to maintain full backing by U.S. dollars or equivalent assets, enforce annual audits for those with a market capitalization exceeding $50 billion, and establish compliance requirements for foreign issuers. Following a preliminary approval from the Senate on Wednesday, the legislation is expected to proceed to the House, where another stablecoin bill is currently pending. The precise timing of the vote will be determined by Senate leadership.
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