Bank of America: U.S. stablecoin supply may increase by $25 billion to $75 billion in the short term due to the GENIUS Act

Odaily News Bank of America said that with the passage of the GENIUS Act, the supply of stablecoins is expected to grow by $25 billion to $75 billion in the short term. The bill lays the foundation for stablecoin regulation in the United States and promotes the development of related infrastructure and tokenized finance. Bank of America also pointed out that the banking industry is preparing to issue stablecoins through a consortium model. This growth is expected to drive an increase in demand for U.S. Treasuries and promote the widespread adoption of digital assets. (CoinDesk)