INSUBCONTINENT EXCLUSIVE:
European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing
The legislation, which aims to regulate stablecoins by establishing reserve and capital requirements, now heads to the House of
Representatives.As Cointelegraph reported last month, the passage of the GENIUS Act could pave the way for companies to issue their own
stablecoins could become a $3.7 trillion market by 2030.Source: Scott BessentIn the meantime, stablecoins remain one of the fastest-growing
segments of the crypto market, with their total value in circulation nearly doubling since the start of 2023 to surpass $250 billion
Analysts at JPMorgan expect the supply of stablecoins in circulation to double again over the next several years.Stablecoins are considered
Rafay Gadit, a former Standard Chartered executive and founder of ZigChain, a digital currency exchange, the passage of the GENIUS Act could
provide positive momentum not just for stablecoins but for RWAs and tokenization more broadly.Stablecoins are collectively valued at $254
billion, with US dollar-pegged assets accounting for 98% of the market
easier to build compliant RWA platforms with embedded onchain settlements
looms as GENIUS Act nears
