Walmart and Amazon plot astonishing move that would upend the whole banking system

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Walmart and Amazon plot astonishing move that would upend the whole banking system

Daily Mail
By TILLY ARMSTRONG
14 June 2025



Retail giants including Walmart and Amazon are reportedly exploring a bold plan to bypass traditional banks — by creating their own currency.

The move to create their a so-capped stablecoin would allow the companies to handle payments with a form of cryptocurrency pegged to the US dollar.

Walmart and Amazon could then cut out middlemen like Visa, Mastercard, and major financial institutions.

The shift could save retailers billions of dollars annually in card processing and interchange fees — but experts warn it could trigger a crisis for the banking system.

'Big retailers moving away from traditional payment systems would be a huge blow for banks and payment providers,' Neil Saunders, managing director of retail at GlobalData, told the Daily Mail.

'Banks and credit card providers make huge profits from things like interchange fees. That is the reason for the interest from retailers – they want to reduce these costs.'

Other companies are looking at a stablecoin too, including Expedia and airlines, according to the report by The Wall Street Journal.

Any innovation currently depends on a bill, called the Genius Act, which would establish a regulatory framework for stablecoin.

(more)
https://www.dailymail.co.uk/yourmoney/article-14810171/walmart-amazon-astonishing-upend-banking-stablecoin.html

[Smokin Joe]

Well, if you use cash, you avoid all those card fees, too.

[roamer_1]

The government takes a rake, the house takes a rake, the middle takes a rake, the warehouse takes a rake, the shipper takes a rake, and thirty seven layers of 'financial services' want a piece of the pie too...

Pretty soon there's way more in the rake than there is in the product, the seller and the delivery... The thing to show is everyone who is trying to take a rake for no work in the deal. The ones who do nothing and get paid.

The biggest one is always government. But that doesn't excuse the rest, by any means. Unproductive hands in the pot are unproductive hands in the pot.  Doesn't matter if it is government bureaucracies, welfare queens, or financial services to the deal - Any deal, every deal - It's all rake off the top for doing nothing in the end.

And when there's more hands in the pot than the deal can bear, the deal just won't happen anymore. The deal goes away, top to bottom, and everybody is unfulfilled.

[IsailedawayfromFR]

Doubt this will ever happen.

The two giants of the retail world being in cahoots would generate tremendous opposition by others and the banks.

Trump seems to see himself as a Teddy Roosevelt wannabe and he would make his mark on busting up the collusion of big boys just like Teddy.

He is already in the process of doing something like that with big tech.