Shopify, Walmart, Amazon Embrace Crypto: Why Are E-Commerce Giants Suddenly Turning to Stablecoins?
Remember when people used to ask, “Can you even buy a cup of coffee with Bitcoin?” Today, crypto payments are no longer just a niche use case among crypto natives — they’re being seriously adopted by the world’s largest retail giants as the “payment method of the future.”
The big news you may have seen recently: Shopify has officially rolled out USDC stablecoin payments. The first batch of merchants started testing on June 12, and a full rollout is expected later this year. At the same time, Amazon and Walmart are reportedly exploring launching their own stablecoins, and even major travel platforms like Expedia and airlines are looking into crypto payments.
So what’s driving this sudden momentum? What pain points do stablecoins actually solve? Should banks and credit card companies be nervous? This article breaks down the core reasons behind e-commerce’s embrace of crypto: is it a trend — or a forced choice?
E-commerce Has Suffered from Credit Card Fees for Years. Are Stablecoins the Answer?
Let’s start with a simple fact: payments have long been the invisible cost-killer in e-commerce. Whether you’re buying on Amazon, a Shopify store, or a global marketplace, your credit card, PayPal, or Apple Pay transaction usually incurs a fee on every order.
Visa and Mastercard, for instance, typically charge 2–3% in fees. For every product a merchant sells, that percentage is immediately lost to the payment channel. And that’s not even counting FX fees for cross-border orders or the cash flow delays from slow settlements. In short: traditional payments are a form of “hidden tax” on digital commerce.
Stablecoins, by contrast, offer a compelling alternative:
Real-time settlement (on-chain)
Low transaction costs (no intermediary fees)
Cross-border compatibility (no FX hassles)
Programmability (potential to integrate with fulfillment and logistics)
So it’s no surprise that giants like Shopify, Walmart, and Amazon are seriously evaluating whether they can capture this part of the value chain for themselves.
Shopify Fires the First Shot: USDC Payment Pilot Goes Live
Among e-commerce platforms, Shopify has moved first. Partnering with Coinbase, it launched a USDC payment feature based on the Base network (Coinbase’s Ethereum Layer 2). Here’s how it works:
Customers pay with USDC on-chain
Merchants receive fiat off-chain (automatically converted)
Circle and Shopify Payments handle the backend
From the customer’s perspective, nothing changes. For merchants, they don’t need to know crypto — everything is automated. The key differences? Lower fees and faster settlement.
To attract users, Shopify is even offering a 1% USDC cashback incentive. Pay with stablecoins, get paid to do so. This move directly challenges traditional payment rails.
It also reveals Shopify’s smart understanding of Web3 user behavior. Many stablecoin holders don’t use cards or PayPal — but they do have assets ready to spend. Shopify wants to turn them into buyers.
Retail Giants Take Notice: Amazon and Walmart Join the Race
Shopify may have made the first move, but more symbolic is the fact that global retail giants are also taking crypto payments seriously. Multiple mainstream media outlets report that:
Walmart and Amazon are exploring launching their own stablecoins (echoing Facebook’s old Libra vision)
Expedia and airlines are investigating crypto payments (to ease cross-border travel settlement)
So why the sudden “all in” from traditional giants?
Cut transaction costs: stablecoins bypass acquirers and drastically reduce fees
Speed up settlement: from days to seconds
Increase customer retention: crypto-savvy, younger users prefer businesses that support their wallets
Bypass legacy banking delays: no more waiting on bank transfers or credit approvals
In short, stablecoins solve several chronic pain points that e-commerce has struggled with for years. No wonder everyone’s eager to try.
And it’s no coincidence that global payments providers have recently criticized stablecoins publicly — the pressure is real.
Crypto Payments Aren’t Purely Decentralized: “On-Chain Payment + Off-Chain Settlement” Is the Compromise
Let’s be clear: crypto payments aren’t entirely decentralized in practice. Take Shopify’s implementation — it’s a typical “on-chain/off-chain hybrid” model:
User selects USDC payment on Shopify’s interface (on-chain via Base or Ethereum)
Shopify receives the payment, and Circle converts it to fiat (e.g., USD, EUR, JPY)
Fiat is then delivered via traditional banking rails
So while stablecoins avoid Visa or Mastercard, the final mile still relies on banks. This is precisely what regulators are watching closely: are stablecoins circumventing compliance? Is the clearing process transparent? What about AML and KYC?
Luckily, Shopify and Circle have done their homework. Their implementation aligns well with current U.S. regulatory expectations on stablecoin compliance.
Why Are E-Commerce Giants Betting on Stablecoins? Three Layers of Industry Anxiety
Let’s break down the core drivers:
Cost Anxiety
Merchants are tired of paying credit card and PayPal fees. Stablecoins offer a way to skip intermediaries, slash costs, and accelerate cash flow.Tech Stack Anxiety
Web2 platforms are still shackled to legacy banking. In contrast, Web3 payment infrastructure is inherently:
Automated
Borderless
Transparent
Protocols like the open-source ones from Coinbase and Shopify could plug directly into order systems — way cleaner than traditional SDKs from PayPal.
- User Anxiety
Crypto-native users are growing fast. They often “have coins but nowhere to spend them.” Supporting crypto payments is an easy way to attract and retain this segment. Moreover, it enables innovative reward systems — cashback, NFT perks, gamified loyalty.
Conclusion: Can Stablecoins Reshape the Global E-Commerce Payment Landscape?
Let’s look at the current signals:
Payment volume is surging: Monthly stablecoin payments have grown from $2B two years ago to $6.3B now, with total volume topping $94B globally.
Platforms are mobilizing: Shopify has launched. Amazon and Walmart are researching. Travel giants are preparing.
The trend is clear: Crypto asset acceptance is rising. Cross-border trade needs efficient settlement. Legacy payment systems are bottlenecks.
If Bitcoin is digital gold, then stablecoins are shaping up to be digital dollars. And the e-commerce players who move early are laying the rails for the next decade of global payments.
