Tag Archives: Tether

Genius Law – What to Expect?

Posted on by
Reply

Yesterday President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law, clearing the path for dollar-backed stablecoins. As I’ve argued before, the future of money is a new model of trust, and this legislation provides the regulatory certainty needed for that trust. 

The GENIUS Act is a landmark piece of legislation. It establishes a dual charter system, enabling both federal and state-regulated stablecoin issuers. The key provisions are precisely what the industry needed: a mandate for 1:1 reserves with high-quality liquid assets like cash and short-term treasuries, a prohibition on reusing those reserves, and the designation of issuers as financial institutions under the Bank Secrecy Act. This isn’t just about compliance; it’s about building a foundation of trust that can be exported globally.

Continue reading →

Stablecoin Plays and Players – Issuers, Infrastructure, and Innovators

Posted on by
Reply

Today’s blog is focused on private companies, business models, and competitive dynamics shaping the stablecoin “industry”. Note Google Gemini was used in discerning company performance and focus.

No we are not going to drill into every company in Block’s DeFi market overview, Stablecoin Liquidity, or the 172 companies in CB Insights Stabllecoin industry map…  but rather some highlights and how the market is likely to evolve in near term. Even though I”m focusing on just a few of the companies below, this is still a rather long 25 pages.

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Stablecoins – A New Model of Trust enabled by Technology?

Posted on by
3

Part 1 – Programmable Settlement

Summary

The defining innovation of stablecoins is not the technology itself, but the trust architecture they enable. While today’s business architecture will NOT be turned upside down, the stablecoin frame does enable new models for managing legal contracts, systems interaction,  operational governance, all within a new regulatory superstructure.

Continue reading →

Stablecoins. Breaking down a momentous set of April announcements

Posted on by
Reply

Impact of Stablecoins on Banks and Central Banks, the Upside for V/MA.

Stablecoins took many amazing leaps in the last 2 weeks. Key developments include

  1. PayPal’s new Stablecoin (PYUSD) earning 3.7% (in PYPL wallet). 
  2. Circle Launches Cross-Border Payment Network:- Circle Payments Network (CPN) – see CPN whitepaper
  3. Paxos and Coinbase, as well as Circle, are pursuing bank charters
  4. Visa to join Paxos and Robinhood in USDG
  5. EU banks are creating a new consortium around stablecoin with the involvement of ING and others.
  6. ECB flags risk of contagion from US crypto push in new policy paper, similarly the Bank of International Settlements (BIS) also published a paper outlining how Crypto and DeFi may destablize finance. 
  7. Italy’s finance minister warns that the attractiveness of US stablecoins poses a bigger risk to Europe than Tariffs.
  8. Regulatory – The STABLE Act has advanced through the House Financial Services Committee, increasing the likelihood of Congress passing legislation to regulate stablecoins (and New Bank Formation Act). Fed Chairman Powell voiced strong support at the Economic Club of Chicago.
Continue reading →