We may FINALLY have well-regulated stablecoins thanks to the GENIUS Act and the regs currently being finalized.
Bank and credit union subsidiaries will keep 100% reserves, to eliminate fractional reserve “bank run” risks… While also not having (and not paying for) deposit insurance.
GENIUS-Compliant stablecoins are an AMAZING way to issue fast payments, with final settlement within seconds, for a few pennies (or less).
Each payment is cryptographically unique, with no way to reverse-engineer your account details and make fraudulent payments using your card or account.
Compare this to paper checks, where you give every payee literally everything they need to issue fake checks with your signature and account number.
Compare to credit cards which transmit your cc number, zip, and 3 digit security code with every transaction. It’s a small step from giving your thumbprint and mother’s maiden name!
Stablecoins move large amounts of money fast, secure, cheaply, and internationally… With BETTER AML & fraud monitoring that your bank can provide with traditional payment rails.
Stablecoins are also programmable. You can give your AI agents a fixed supply of stablecoins to transact on your behalf. You can issue “smart contracts” that automatically move money (stablecoins) when a trigger event occurs. Did you sign over title? Did you receive the goods? Did you accept the condition of the renovation? The money moves instantly. No “check in the mail”. Contingent payments happen the same moment the trigger event occurs.
It’s time.
Destablize the status quo with a more secure and stable payment coin for the future.
