Walmart could be planning to issue a fiat-backed digital currency similar to Facebook’s Libra

Retailing giant Walmart could be working on issuing a fiat-backed digital currency, similar to Facebook’s Libra cryptocurrency, according to a new patent filing. Published on Thursday, the filing outlines a method for “generating one digital currency unit by tying the one digital currency unit to a regular currency,” meaning a fiat-pegged stablecoin.

The blockchain-based digital currency “may be pegged to the US dollar,” the filing adds, and maybe available for use “only at selected retailors or partners.”

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.