Visa: Stablecoins need to build technology layers, reserve layers and interface layers to become the next generation of digital payment infrastructure

Odaily News Jack Forestell, Chief Product and Strategy Officer of Visa, wrote an article on the official website titled "The potential genius of GENIUS", in which he pointed out that the US Senate has passed the stablecoin bill "GENIUS Act", which means that stablecoins will usher in the next era of programmable digital currency opportunities, but there is still a lot of work to be done. If stablecoins want to become part of the world's next-generation digital payment infrastructure, they must have three levels:
1. Technical layer: Ability to safely and reliably execute transactions at ultra-high speed and scale, with zero tolerance for failures, leaks or violations;
2. Reserve layer: Trust must be established in the value and stability of the medium of exchange, and stablecoins must be regulated and backed by reserves;
3. Interface layer: Users must be provided with a simple and convenient mechanism to convert value into the fiat currency of their choice.