Just a week after the United States adopted its first complete legislation on cryptocurrency, the Stablecoins market has seen more than $ 4 billion new emissions entering. The recently signed Genius law is already transforming the sector. By providing a federal framework for stablecoins backed by Fiat currencies, it gives banks, asset managers and fintech startups a regulatory green light. This allows the arrival of new capital, new players, and a clear path for token dollars.
In short
- The Stablecoins offer increased by $ 4 billion in one week following the adoption of the Genius law.
- New entrants as an anchorage, Wisdomtree and Wall Street banks launch regulated stablecoins and backed by Fiat currencies.
- The Genius law provides legal clarity and requires strict rules for reservations, audits and licenses.
Genius law
For years, American stable emitters have operated in a legal gray area. The dry has issued warnings. The CFTC disagreed. The action of the congress stagnated. But with the Genius law signed on July 18, the rules have changed and the market reacts quickly.
The law creates specific safeguards for stablecoins backed by FIAT currencies: transmitters must have full reserves in ratio 1: 1, undergo independent audits and obtain appropriate licenses. These requirements aim to protect consumers while legitimizing this class of assets for institutional use. And the institutions react.
Anchorage, Wisdomtree and Wall Street intervene
On Tuesday, Anchorage Digital, the only federally approved crypto bank in the United States, announced a new stablecoin emission platform built in partnership with Ethena Labs. Their first product, USDTB, will be launched within the framework of the Genius law.
On the same day, the active manager of Wall Street Wisdomtree launched USDW, a stablecoin entirely backed by the dollar designed to support token assets paying dividends. The fund complies with all the compliance standards defined in the legislation. At the same time, Bank of America, Jpmorgan and Citi confirmed to explore their own Stablecoins initiatives.
The domination of the stablecoins backed by the Fiat is strengthened
The Stablecoins sector is still mainly dominated by tokens backed by Fiat currencies, which now represent around 85 % of the market. At the head are USDT and USDC, which totaling more than $ 227 billion in capitalization together.
Unlike algorithmic stablecoins, the reputation of which was seriously affected by the collapse of the terra, parts backed by Fiat are guaranteed by real assets such as the dollar and short -term treasury bills. The Genius law specifically targets this model.
The tokens collateralized by cryptos like DAI, which use ETH and other overollateralized assets, continue to play a role, although their imprint, at $ 4.3 billion, is modest in comparison.
A new era for stablecoins
THE jumping up of $ 4 billion is a clear sign of dynamism. The stablecoins evolve from the 2019 native tools of the crypto to instruments of institutional quality. They are starting to fuel dividend payments, cross -border regulations, and even potential integrations of central banks.
Perhaps more importantly, they now benefit from 2019 a Bipartisan legislative support in the United States. With the regulations in place and read2019 agency of Wall Street, the wars of Stablecoins enter a new phase.
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