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Stablecoin's promoters bank on it becoming digital cash - or a risky crypto play
In July, Congress passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, better known as the GENIUS Act, which has introduced a regulatory framework for U.S. dollar (USD) DXY payment stablecoins. Some analysts predict a multi-trillion-dollar stablecoin market by 2030, up from roughly $300 billion worth of USD stablecoins in circulation today. But stablecoin's future might hinge on whether it becomes mainstream digital money for low-cost payments or a tool for a growing universe of risky leveraged finance. For widespread stablecoin adoption, two things must happen: Merchants must accept ... (full story)
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