US Companies Plan Stablecoins Under New GENIUS Act

President Donald Trump signed the GENIUS Act into law on July 18, establishing the first-ever federal regulations for U.S. dollar-pegged stablecoins, which could enable digital assets to become a common means of payment and money transfer. This legislation is prompting major financial firms like Bank of America and Fiserv, as well as retailers such as Walmart and Amazon, to consider launching their own stablecoins or integrating existing ones like Circle's USDC into their operations. While stablecoins offer near-instant payments and lower fees compared to traditional banking, companies face complex strategic and technical challenges before deploying their tokens. Globally, stablecoin regulations remain fragmented, with the EU, Hong Kong, and the U.S. adopting differing frameworks that complicate cross-border use and increase compliance costs. Experts warn that these regulatory divergences create operational friction and favor large, well-capitalized issuers, potentially stifling innovation and leading to market consolidation. The global competition among jurisdictions to attract stablecoin business also reflects economic diplomacy efforts, adding further complexity to the evolving digital asset landscape.