Every bank will issue a stablecoin after GENIUS Act passage: Alchemy CTO

The U.S. Senate has passed the Genius Act, bringing long-awaited regulatory clarity to stablecoins. With this development, major financial institutions are expected to roll out their own stablecoins. Guillaume Poncin, CTO of Alchemy, gave an interview to crypto.news. Alchemy is working with Visa, Coinbase, Stripe, and Robinhood on stablecoin issuance.

Until now, major banks have held back, waiting for clear regulations, a need the new bill addresses. Poncin believes that, in the future, every bank will issue its own stablecoin and operate its own blockchain.