Canaccord Genuity: Compliant stablecoins will become the Internet's monetary layer

Odaily News Canaccord Genuity pointed out in a research report that with the passage of the GENIUS Stablecoin Act by the U.S. Senate, compliant stablecoins will become the "Internet currency layer." Analysts believe that the passage of the bill eliminates regulatory uncertainty, allowing stablecoins to break through the limitations of crypto trading pairs and gain a wider range of application scenarios.
The relevant report emphasizes that compliant stablecoins have essentially been regarded as cash equivalents by the US government, and their instant settlement and low-cost characteristics will improve the efficiency of capital flow. The full reserve requirement will make stablecoins an important source of demand for short-term US debt, while promoting the dollarization of the global economy. Analyst Joseph Vafi's team believes that this marks the arrival of the era of programmable currency. (CoinDesk)