Latest news with #Stablecoin
The Verge
a day ago
- Business
- The Verge
PayPal will soon let you 'Pay With Crypto.'
Posted Jul 28, 2025 at 6:57 PM UTC PayPal will soon let you 'Pay With Crypto.' It will let US-based merchants start offering the new payment method 'in the coming weeks,' allowing them to accept than 100 types of cryptocurrencies, including Bitcoin, Ethereum, and Tether. PayPal will automatically convert the crypto payments into fiat currency or its PYUSD stablecoin. The company says the option will help merchants avoid the transaction fees that they'd typically face when accepting international payments. PayPal to Roll Out 'Pay With Crypto' Feature for Merchants [ Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates. Emma Roth Posts from this author will be added to your daily email digest and your homepage feed. See All by Emma Roth Posts from this topic will be added to your daily email digest and your homepage feed. See All Crypto Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
Forbes
5 days ago
- Business
- Forbes
The GENIUS Act, Reading Between The Lines
Illustration Representing the GENIUS Act, First US Legislative Bill All of the crypto-sphere is atwitter with the implications of the final passage of the 'Guiding and Establishing National Innovation for U.S. Stablecoins Act'' or the ''GENIUS Act''. I went through the text of the act that was signed into law last week. Contrary to what the boosters of the bill believe, the implications for related digital assets and the economy are very mixed at best. As the first legislation to directly address one form of crypto-assets, the act is seminal. Of course, my own compatriots at the various blockchain companies and organizations are ecstatic over the act. It is best to temper your enthusiasm due to the details in the bill. First, the act focuses on payment stablecoins, and for other purposes. 'For other purposes' could cover an unspecified number of purposes. The constitution of the Stablecoin Review Board and research into non-payment Stablecoins (the bulk of currently issued Stablecoin total value), into interoperability, into novel methods for detecting Anti-Money Laundering violations, and into the effects of foreign issued Stablecoins could be some of these 'other purposes.' Definitions Continued This act clarifies the definition of a Digital Asset Service Provider. The definition explicitly excludes wallet providers, blockchain protocol vendors, DeFi protocols etc. The removal of confusion that surrounded earlier enforcement actions which made all such activities suspect is a huge relief for such actors. Whew! Exchanges are still in purview. Payment stablecoins must obey the law. Freezing, burning, seizure and blocking transfer must be enforceable by a 'lawful order'. These cannot be implemented by ERC-20 based stablecoins. This is of course anathema to the free souls of the decentralized universe. This is in the act, any non-compliance with a lawful order results in huge daily fines and imprisonment. Also to folks that say, technology does not matter, business use cases over technology seem unaware of the fact that basic capabilities baked into the technical underpinnings are needed BEFORE any business use cases can come to fruition. Look at what the ERC-20 standard and free implementations unleashed on the world. Payment stablecoin issuers have to be regulated by either a Federal Agency, primarily the OCC or other regulators on the Federal level. There is another tier for State Level Payment Stablecoins which are meant to be regulated by state regulators. The state level issuers limit is $10B and federal issuers are limited to $50B. There are some provisions in the bill for the migration of State Regulated stablecoin issuers to federally regulated issuers. Other details including breaches of these limits are punted to a Stablecoin Review Board, making for an open-ended set of rules. The act constantly invokes the Review Board and the Treasury Secretary who is the leader of the Stablecoin Review Board giving them tremendous leeway for rule setting. Neither USDT nor USDC qualify as US payment stablecoins yet according to this act. USDT because Tether is based offshore, USDC does not have a bank charter yet. However, a safe harbor provision may get Circle off the hook while their charter is pending. As soon as USDC is approved by the OCC, they will be instantly not in compliance to the act, as USDC is more than $50 Billion in issuance. As we can see, current stablecoins are not usually used for payments. Where Are Payment Stablecoins? Payment stablecoins means a digital asset that is designed to be used as a means of payment or settlement; and the issuer is obligated to convert, redeem, or repurchase for a fixed amount of monetary value. It also represents that the issuer will maintain, or create the reasonable expectation that it will maintain a stable value. In other words, the payment stablecoin has to be used for payment and has to be stable with respect to a currency. Such a stablecoin is NOT a fiat currency, nor a bank deposit, nor a tokenized stablecoin of a bank deposit such as JP Morgan's Kinexsys. It is not clear that the current use of USDT and USDC falls within the term 'payment stablecoins'. Such payment uses cannot be distinguished from their most frequent use, to hold stable USD instead of volatile home currencies or to use as a stable parking place and an anchor in swap based AMMs and other daily arbitrage trading of volatile crypto-currencies. Stable USD may be a misnomer as USD has fallen in value in the last few months against a basket of currencies. Stability Of Stablecoins Any stablecoin whose basic function is stability with respect to a single fiat currency can only be assured by holding liquid reserves denominated in that fiat. For USD based stablecoins the act explicitly enjoins this to be cash, treasuries maturing in 93 days or less and repos as well as reverse repos based on these instruments. The act also warns against concentration risk. Significant portions of these reserves cannot be in one single institution. We have already seen this scenario play out during the collapse of SVB, which custodied more than $3B of Circle's assets. Only a last minute expansion by the FDIC of the limit to 'unlimited' saved Circle and many other startups. A Stablecoin functions as one of the representations of fiat money that it is based on. In the United States that would be the United Stated Dollar. The other forms available to retail participants are bank deposits and bank notes. Par price, that is the price between the different representations ties all these forms into the singleness of money. Par is 1:1, that is one dollar of bank deposits is equal to one dollar of currency. Stablecoins must follow this. Professor Mehrling has discussed this in a money view of stablecoins. There is no discussion of par in the act. The reserves which are a touch point between stablecoins and traditional markets is where the risk of contagion can start. The restricted redemption of Money Market Funds by BNP Paribas (my previous employer) in 2007 foreshadowed the 2008 financial crisis. A run on a stablecoin issuer could initiate a rapid sell-off in the reserves, including short duration treasury bills. A negative feedback loop on this sort of act can cascade into multiple assets as treasuries are the basis of fixed income and credit markets. We have seen that only bazookas with tremendous firepower through the buying backstop of an institution like the Fed can stem this blood-letting. These are reasonable scenarios to assess the risk of any stablecoin issuer. Additionally stablecoins are not protected by the FDIC, which can cause the panic to spread through retail investors in a very short period of time, maybe even minutes. The Fed will have to ride to the rescue to prevent the larger financial system from collapsing. How Do Issuers Make Money? No big issuers of Stablecoins currently pay interest. Most of the money made by the issuers is based on the yield difference between issuing a zero interest stablecoin and the reserves that they hold. This is the classic example of other people's money making money for your enterprise. In the case of Tether, this payout is in the billions and makes the most money per employee of any enterprise, except for shadowy enterprises such as drug dealing or other illicit activities. If we had negative interest rates on Treasuries or other qualified digital assets, this source of yield farming by the issuers will dry up. Issuers will have to increase their fees, they might also slide into loss-making enterprises. The 48 pages of the act deals with the seniority of Stablecoin claims, guidelines on custody, commingling of assets and other ideas from traditional finance. The Genius Of The Act It is to convince the crypto-universe that it is beneficial to them while advancing traditional institutions for issuing, custodying and exchanging stablecoins. Traditional banking or non-banking institutions who already have bank charters, scale and know-how for customer on-boarding, AML and KYC are the winners. It is to allow a form of private money to come into being and shut out the issuance of CBDCs. It is to remain relatively mum on par price which is only implied. It is to convince the world that the velocity of money unleashed by the near instant settlement at low cost will not have monetary policy implications.
Zawya
21-07-2025
- Business
- Zawya
Central Bank of Bahrain launches framework for Stablecoin regulation
Bahrain - In a landmark move that positions Bahrain at the forefront of digital asset regulation in the region, the Central Bank of Bahrain (CBB) launched the Stablecoin Issuance and Offering (SIO) Framework under Rulebook Volume 6, effective July 2025, establishing a comprehensive licensing and regulatory regime for stablecoin issuers. As of July, the Kingdom of Bahrain joins a select group of jurisdictions that have enacted comprehensive regulatory frameworks for stablecoin issuers. A stablecoin refers to a type of crypto-asset that is often tied one-to-one to a specific currency or asset in the material world. To illustrate, this means that a stablecoin linked to the American dollar would be worth $1. True to its name, this assurance in the form of collateral intends to be stable in value, in comparison to other cryptocurrencies. Currently, there are four variations: namely, algorithmic, commodity-backed, crypto-backed, and fiat-backed stablecoins. In the Bahraini legal context, approved stablecoins means single-currency fiat-backed stablecoins issued by a licensee under the SIO Module. Generally, fiat-backed stablecoins seek to maintain stable value through reserve assets, referenced to a single fiat currency or multi-currency. Accordingly, reserve assets are held as security by stablecoin issuers. The SIO Module establishes a licensing regime which shall be read and applied in conjunction with Volume 6 of the CBB Rulebook, including but not limited to, the Anti-Money Laundering and Combating Financial Crime Module (AML), the Fit and Proper Requirements Module (FM), and the High-Level Controls Module (HC). Under Volume 6 of the CBB Rulebook, licensing and regulatory procedures for crypto-asset services were also previously established. The SIO Framework extensively addresses the governing, enforcement and redressal mechanism for stablecoin issuance and offering. Chapters SIO-2 and SIO-3 encompass licensing procedures and conditions. Paragraph SIO-2.1 comprehensively outlines the requirements for the applicant, to be submitted by the potential licensee. This is paired with a non-refundable licence application fee of BD100 (One Hundred Bahraini Dinars). In line with SIO-1.1.6, a licensed stablecoin issuer's eligibility follows a two-pronged assessment. 1. Type of stablecoin that may be issued Stablecoin issuers may issue single-currency fiat-backed stablecoins pegged to the Bahraini Dinar (BD), United States Dollar (USD), and or any other fiat currency upon obtaining approval of the CBB. As a prerequisite, the value of the reserve assets backing the approved stablecoin–with a minimum requirement of equal to par value–is to be observed by the stablecoin issuer. 2. Requirements relating to the eligibility and obligations of the stablecoin issuer Chapter SIO-3 lays down eight core licensing conditions to be met. A key point of clarification hereunder is the requisite for the stablecoin issuer to be locally incorporated as a Bahraini Joint Stock Company (BSC) with financial resources that are always equal or exceeding the minimum requirement as prescribed in Chapter 4 of the SIO Module, and compliant with pre-operational and licensing requirements. The CBB shall issue a decision regarding a completed application within 60 calendar days, in accordance with Articles 44 to 47 of the CBB Law. Chapter SIO-6 of the SIO Module necessitates the specific composition, custody and management of reserve assets. These reserve assets are to be held with a third party – a bank, investment firm or custodian – arranged by a written contract. Outside of the general powers and obligations awarded to stablecoin issuers, Chapter SIO-6 also addresses holders of the approved stablecoins. Briefly summarised, the key characteristics are as follows: (i) grants the direct legal right to redeem the approved stablecoin for the pegged fiat currency, at par value; (ii) mandates legitimate redemption requests to be processed at par value and completed within five business days; (iii) discourages high fees or charges that may deter clients from exercising their right to redemption, as well as requires a reasonable basis for any imposition; (iv) requires the establishment and implementation of relevant policies and procedures for redemption, and sets disclosure requirement for redemption policy and procedure; and (v) on issuance or offering yield from interest or reward from the investment of reserve assets. In further interest of potential holders of such an approved stablecoin, Chapter SIO-7 provides for the preparation of a non-technical reliable and accurate stablecoin whitepaper–aside from its guidelines on marketing, following whitepaper publication–intended to enable potential clients to make a well-informed decision. Reflecting a spirit of risk-based oversight and investor protection, the framework includes custody arrangements, recovery plans, and the adherence to global best practices in financial stability – wherein the CBB places prudential requirements, issues stringent reporting measures, contingent to scale and risk, imposes limitations and/or restrictions, and classifies an approved stablecoin as a 'significant stablecoin'. This is further reflected in its approach to technology governance, requiring secure infrastructure and standard cybersecurity controls. Preparatory measures, including the addressing of planned and unplanned system outages, are efficiently incorporated. The CBB retains enforcement powers, pursuant to Part 11 of the CBB Law, including the authority to impose administrative sanctions, financial penalties, as detailed in Appendix E of the SIO Module, and, where applicable, criminal sanctions for serious violations, in accordance with the CBB Law. Licensees must notify the CBB and, where required under the SIO Module, obtain prior written approval from the CBB for any material change to their business operations or management structure. To conclude, the SIO Module provides a clear, rigorous and trustworthy framework which requires an extensive pre-approval process and substantial documentation. Resultantly, such an approach promotes transparency, effectively reducing ambiguity and accountability, given the legal certainty and clarity. By implementing these measures, Bahrain not only stands out as a regional leader in stablecoin regulation but also sets a benchmark for other countries aiming to integrate stablecoins into their financial systems while ensuring regulatory compliance and consumer protection. (Al Doseri Law is a specialist Bahraini law firm built on established and trusted client relationships.)
Forbes
18-07-2025
- Business
- Forbes
Europe's Fintechs Welcome U.S. Stablecoin Regulation
Shah Ramezani says regulation is helping to push Stablecoin into the mainstream Bitcoin prices surged again this week, rising above $123,000 for the first time. Clearly, that was good news for those who are already invested in the currency, while perhaps being a slightly irritating irrelevance for everyone else. But the underlying story has a wider resonance. Bitcoin's record-breaking rise was due, at least in part, to developments in another corner of the digital currency universe. The Genius Bill - creating a framework for the regulation of Stablecoin - was crossing its final legislative hurdles, leading up to approval by both houses. It's successful journey to the U.S. statute books helped to fuel a renewed confidence in virtual currencies. And this newfound positivity surrounding digital currencies in general and Stablecoins in particular has implications that extend far beyond the borders of the United States. In Europe, fintechs are sensing that a changing regulatory backdrop will open up new opportunities. The Confidence Factor Shah Ramezani is co-founder and CEO of Noah, a U.K.-based payments company that enables money to be transferred in a Stablecoin format and converted into fiat currencies when required. Because Stablecoins are pinned to the value of conventional currencies - usually the dollar - they can be used for rapid and cost-effective cross-border transactions without exposing participants to undue volatility. Last month, the company raised $22 million in Seed funding from LocalGlobe, Flex Capital and FJ Labs, plus some angel investors. To date, it has partnered with brower company Opera (to provide payment services for the latter's Minipay wallet) and with Stablecoin company Circle. And as Ramezani sees it, regulation is helping to build confidence and push the Stablecoin concept into the mainstream. 'A year ago, if we wanted to work with a bank or a financial services company, the conversation would be much harder than it is today,' he says. Regulation is not confined to the US Genius Bill. Last year, the European Union implemented its own standards for the industry, with rules that required coin issuers and infrastructure providers to be authorized by the bloc's regulators. Meanwhile, in the U.K., the Bank of England is consulting on the matter. Chris Mason, is CEO of Orbital, a fintech company that provides payments services across Stablecoin and conventional currencies. Earlier this month, the company announced a partnership with ClearBank Europe, giving it access to real-time euro clearing facilities. According to Mason, the flurry of regulatory activity around the world is having a positive impact on the uptake of Stablecoin solutions. 'The rise of regulatory frameworks, such as the MiCA regulation in Europe, the Genius Act and other regulatory drafts in the U.K., has turned what once was once a loosely defined market into serious policy considerations,' he says. Regulatory clarity has legitimised Stablecoins, bringing a much-needed credibility boost.' There are other factors. Ramezani says the credibility of digital currencies has also been boosted by corporate M&A activity, such as acquisition by fintech giant Stripe by Stablecoin infrastructure provider Bridge. The deal was, he says, a signal that digital currencies were coming of age in the payments marketplace. Speeding Up Payments Advocates for cryptocurrency payments argue that the traditional method of moving money around the world under the internationally agreed SWIFT system is slow and cumbersome when compared to transfers facilitated by blockchain. However, in the past, currencies such as Bitcoin have proved problematic for this purpose due to their sometimes wild fluctuations in value. 'Bitcoin was originally seen as a payments tool, but it pivoted into a store of value,' says Ramezani. 'That doesn't work, you can't do two things.' The volatility of digital currencies was thrown into sharp relief in 2023 with the collapse of FTX. At that point, Ramezani, who was already working on a payments system, decided that Stablecoin was much better suited to the task. Today, he feels he is riding a wave of market enthusiasm. However, he is aware that if and when the Stablecoin payments market does come of age it is likely to be dominated by two or three players. So the question is, how do fintech startups compete on a global stage? Ramezani says it is not enough to offer a technology solution. In a world where it has become ever easier to develop products – you can code much faster now, thanks to AI – companies working in the field must differentiate themselves. Go-to-market strategies are crucial. To that end, Noah has rebranded, while also putting an emphasis on establishing credibility. 'We have turned away a lot of business. We don't want to work with people who would taint the brand,' he says. There is also some heavyweight payments DNA within Noah. Former Adyen executive Thijn Lamers is onboard as co-founder and President. The Global South Ramezani sees London as a good base for a company working in this new market. Geographically speaking it is well placed to sell services into Africa and Asia. Indeed, one of its partners - browser company Opera - has a particularly strong presence in Africa. Chris Mason sees a genuinely global opportunity for European fintechs. 'The fintech market has cooled after its boom years from 2018 to 2022,' he says. 'As we stand, Stablecoins are having the biggest impact around cross-border payments, which have traditionally suffered from high fees, slow settlement times and a lack of transparency. This has been particularly true of the Global South. ' Thus, he says, fintechs have an opportunity to create new products, take them global and make them faster and more efficient. It remains to be seen what impact the Genius Act will ultimately have on the progress of Stablecoin as a mainstream payments tool. But regulation around the globe may be opening the door to conversations and opportunities.
Forbes
17-07-2025
- Business
- Forbes
GENIUS Act Passes As Stablecoin Rules Head To The White House
Stable Coin. getty On July 17, 2025, the U.S. House officially passed the GENIUS Act, clearing the final legislative hurdle for the first federal framework governing corporate-issued, fiat-backed stablecoins. A historic shift is now underway. I still remember the moment that made me pause. I was reviewing a payment systems chart when something unexpected jumped out: stablecoin transfers are faster and cheaper than every other major U.S. payment method. We're talking less than a penny and under a second. Compared to $30 international wire fees or a 3–5 day ACH delay, it felt like I was staring at a before-and-after photo of the internet age, except this time, it was money that had gone digital. And the world hadn't quite caught up. Over the past 12 months, stablecoins have quietly processed $33 trillion in transaction volume. That's nearly 20 times the volume of PayPal, about three times that of Visa, and rapidly catching up to ACH—the decades-old workhorse of U.S. payments. This is more than a volume story, it's a velocity story. Stablecoins now settle in less than one second, cost under a cent, and run 24/7, even on weekends and holidays. With blockchain infrastructure upgrades like Solana, Base, and Arbitrum, stablecoins have evolved from clunky experiments into real, scalable alternatives to legacy rails. The Treasury Effect: Stablecoins and U.S. Debt The impact goes beyond payments. Stablecoins now collectively hold $128 billion in U.S. Treasuries which is more than sovereign holders like Germany, Saudi Arabia, and South Korea. According to Citi, that number could reach $3.7 trillion by 2030, making stablecoin issuers the largest holders of U.S. debt. Analysts at Standard Chartered now suggest that once the stablecoin market cap hits $750 billion (currently ~$258 billion), they may begin to reshape the structure of the U.S. Treasury markets themselves. Over 1% of the total U.S. dollar supply is already tokenized, giving these digital dollars real weight in global economic systems. Retail Giants And Banks Are Building Their Own Coins Amazon and Walmart are not watching from the sidelines. Both companies are building internal teams exploring the launch of their own stablecoins, as reported by Axios and The Wall Street Journal. Their motivations are clear. Credit card fees of 2–3% on hundreds of billions in annual transactions represent enormous savings if replaced by blockchain-based payments. Stablecoins also enable real-time refunds, direct customer relationships, and loyalty systems that can be personalized and instantly redeemable. Imagine earning your cash-back in an 'Amazon Dollar' that arrives in real time, can be spent instantly, or even used for subscriptions. That's no longer science fiction, it's a pilot project. Major U.S. banks like Bank of America and Citibank are jumping into the stablecoin game. They're timing this push perfectly as the country gets more crypto-friendly with its regulations. It's a big shift seeing traditional banks embrace digital currencies like this. The move shows how mainstream stablecoins are becoming in the financial world. GENIUS Act Ushers In a New Era With bipartisan support and a growing sense of urgency around digital innovation, this moment marks a turning point. The GENIUS Act delivers long-awaited regulatory clarity—giving corporations, fintechs, and financial institutions the green light to build with confidence. Supporters are already comparing its potential to the Telecom Act of 1996, which sparked a wave of internet-era transformation. Now, with clear rules in place, businesses can reimagine payments using stablecoins that are faster, cheaper, programmable, and available 24/7. Expect Fortune 500 companies, banks, and consumer platforms to act fast. The rails for programmable money are being laid—and the future of finance just got a lot closer. Global Eyes on Stablecoins Since the GENIUS Act Passed While the U.S. advances regulation through the GENIUS Act, the global stage is also elevating stablecoins to the top of the financial agenda. Bank of England Governor Andrew Bailey, now head of the Financial Stability Board (FSB), has declared that assessing stablecoins' role in payments and settlements is a top priority for the G20. This marks a global acknowledgment that stablecoins are no longer experimental—they're fundamental to the future of payments. Beyond Crypto Speculation and the GENIUS Act: Real Use Cases For years, stablecoins were dismissed as tools for traders. But today, the data tells a different story. Businesses are using them to settle B2B invoices, streamline international payments, offer programmable loyalty rewards, and handle real-time refunds. What's more telling: stablecoin activity is increasingly uncorrelated with crypto trading volume, a clear sign of product-market fit. This means people aren't just using stablecoins to move between coins during market swings; they're using them as infrastructure for commerce and utility. Demand is also increasingly coming from non-crypto-native companies that view stablecoins as a superior cross-border technology, not just a speculative asset. This shift in perception signals that the use case for stablecoins is rooted in performance and efficiency, not hype. Fintech leaders like Circle, PayPal, and JPMorgan are already deep in the space. Visa and Mastercard have integrated stablecoin capabilities. Globally, Ant Group and others are testing regulated stablecoins in Asia, while travel companies explore crypto-based payment options. For the GENIUS Act, Who's Leading in Stablecoin Infrastructure On the issuer side, it's a race between USDC (by Circle) and Tether. On the infrastructure side, Ethereum and Tron remain dominant. But chains like Solana, Arbitrum, and Base are showing rapid growth and becoming go-to options for lower-cost, high-throughput transfers. Circle's USDC Stablecoin leads the way (Photo Illustration) Getty Images This is a new kind of infrastructure war—driven by fees, speed, and regulatory readiness. The Emerging Savings Layer of Stablecoins With the GENIUS Act In a recent conversation with Morpho, a leader in the lending protocol space, Merlin Egalite, their co-founder, noted a subtle but significant shift: 'Lending protocols are becoming the 'savings layer' of stablecoins. What started as infrastructure for borrowing has evolved into the backbone for earning yield on digital dollars. Users aren't just borrowing, they're parking capital, earning returns, and treating these platforms like high-yield savings accounts. It's a natural convergence: stablecoins offer price stability, and protocols like ours provide programmable, decentralized interest. Together, they're becoming the foundation of the new digital economy.' Merlin Egalite, co-founder at Morpho, focuses on the savings layer for Stablecoins Morpho Since issuers like Circle or Tether can't directly offer users T-bill-like returns, protocols like Morpho are stepping in. Through integrations such as Bors, they're enabling 4–5% yield on stablecoins, essentially building a yield-generating foundation under these digital dollars. Other platforms like Deribit now offer 4% yield to USDC holders, and startups like Dakota are raising millions to help businesses move funds between dollars and stablecoins seamlessly. Meanwhile, market makers, who are the liquidity engines behind crypto markets, are emerging as quiet winners in this shift, benefiting from relentless demand for stablecoins. It's a quiet evolution, but it could be a defining one, reshaping how stablecoins remain competitive in a world where users increasingly expect their money to earn, not just move. Strategic Actions for Business Leaders With The Passing of the GENIUS Act Whether you're in retail, finance, e-commerce, or logistics, stablecoins should now be part of your strategic planning. Here's what you can do today: Audit your payment stack: Where are the bottlenecks and costs? Explore pilot programs with stablecoin partners or wallets. Monitor how the GENIUS Act will be implemented and enforced. Consider how programmable money could enhance loyalty, refunds, and cross-border operations. With the GENIUS Act, A New Financial Architecture Is Emerging We are witnessing a financial transformation as significant as the move from dial-up to broadband. Infrastructure improvements have unlocked a new generation of programmable, cost-effective, and scalable money. As Amazon, Bank of America and Walmart enter the fray, stablecoins aren't just for crypto enthusiasts—they're a mainstream business tool with the potential to reshape everything from checkout to customer engagement to global supply chains. The future of money is unfolding in real time. With the GENIUS Act passed and global regulators aligning, we may look back on this as the moment the world's payment systems caught up to the internet age. As one investment leader put it: 'Eventually, 50% of global payments are going to be made in stablecoins.' If that's true, the transformation has only just begun. Did you enjoy this story on the Genius Act and Stablecoins? Don't miss my next one: Use the blue follow button at the top of the article near my byline to follow more of my work.
