Major retailers such as Walmart and Amazon are considering creating their own cryptocurrencies, according to Brittain Ladd, a supply chain consultant and former Amazon executive. Ladd suggests that these companies should peg their cryptocurrencies to the US dollar or gold to make them more stable than Bitcoin.
The Potential for Disruption
Ladd argues that by creating their own cryptocurrencies, large retailers can circumvent traditional payment systems, which cost them billions of dollars in fees annually. “Merchants have long tried to launch payment alternatives to get around the card-based system dominated by Visa and Mastercard,” Ladd said. “Amazon’s efforts are still in early stages, and talks have centered on having the company’s own coin for online purchases.”
Walmart’s Financial Services Ambitions
Walmart has been expanding its financial services through its FinTech unit, leveraging its vast network of customers and employees. Ladd believes that Walmart could potentially become the largest bank in the USA if it pursued this path aggressively.
Implications for the Banking Industry
A move by Walmart or Amazon to launch a crypto-based payments system could send shockwaves through the nation’s banks. According to TD Cowen analyst Jaret Seiberg, “The push to instant payments is inevitable and represents a risk” to Visa and Mastercard.
Retail Technology Innovation
The potential development of cryptocurrencies by major retailers is just one aspect of the evolving retail technology landscape. The 2025 RTIH Innovation Awards will focus on payments as a key area of innovation, highlighting the ongoing changes in the retail sector.
