Walmart and Amazon are planning to enter the stablecoin market, launching their own dollar-backed stable asset.

According to a report by the Wall Street Journal, Amazon and Walmart are mulling plans to introduce a US dollar-backed stablecoin. The final decision regarding the stablecoin issuance will largely depend on the progress of the GENIUS Act.

Major retailers like Amazon, Walmart, Meta, and Ant Group are increasingly exploring and launching their own stablecoins, signaling a significant shift in mainstream commerce.