American retail giants Amazon and Walmart are reportedly considering the possibility of launching their own stablecoins.
This move could potentially change how consumers pay for goods online while helping large retailers reduce costly transaction fees.
A Cheaper Payment Alternative
According to the Wall Street Journal, both companies are mulling whether to create brand-specific coins or to adopt external stablecoins through a possible merchant-led consortium.
Amazon’s efforts are still in the early planning stages. Sources familiar with the matter said the firm is discussing the potential for an in-house token that could be used for purchases on its platform. Walmart is also weighing similar options and has been lobbying for reforms in the payment space that would support digital payment innovation.
By using stablecoins, the mega retailers could bypass traditional financial systems where merchants currently pay 1% to 3% per card transaction. This fee can add up to billions of dollars
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