Canaccord Genuity: Compliant Stablecoins Will Become the Internet’s Monetary Layer

Canaccord Genuity noted in a research report that with the passage of the GENIUS Stablecoin Act by the U.S. Senate, compliant stablecoins are set to become the "monetary layer of the internet." Analysts believe that the approval of this bill eliminates regulatory uncertainty, allowing stablecoins to move beyond the confines of crypto trading pairs and gain broader use cases.
The report highlights that compliant stablecoins are essentially regarded by the U.S. government as cash equivalents, and their instant settlement and low-cost features will enhance capital flow efficiency. The full reserve requirement will make stablecoins a significant source of demand for short-term U.S. Treasuries, while also accelerating the global dollarization process. Analyst Joseph Vafi's team believes this marks the advent of the programmable money era. (CoinDesk)