#GENIUSActPass It’s official. The Senate just passed the GENIUS Act.
That’s the ‘Guiding and Establishing National Innovation for U.S. Stablecoins’ Act, the backbone of Trump’s redollarization strategy.
And like clockwork, the money market power brokers are already making moves.
JPMorgan has since announced it will launch its own dollar-backed stablecoin, JPMD, built on Coinbase’s Base network. That's the largest U.S. bank issuing a U.S. stablecoin on a crypto-native Layer 2.
JPMorgan. Stablecoin. On-chain. On Base.
As I’ve covered a lot in the last few weeks, everything happening right now is centring around stablecoin integration with legacy systems and networks.
That step is crucial to the wider crypto adoption play because it’s stablecoins that act as the direct gateway from legacy TradFi into the crypto DeFi markets.
GENIUS, now through the senate has just unchained the floodgates, and (according to Treasury Secretary, Scott Bessent) the flood of capital is on its way.
Crypto's ‘Once Per Cycle’ Wealth-Building Moment Is Here
We’ve entered the next phase of the crypto cycle—where smart capital moves early and retail follows late. With fundamentals stronger than ever and institutional adoption accelerating, the window to act is now. While others wait for certainty, the informed few are positioning for outsized gains.
It’s official. The Senate just passed the GENIUS Act.
That’s the ‘Guiding and Establishing National Innovation for U.S. Stablecoins’ Act, the backbone of Trump’s redollarization strategy.
And like clockwork, the money market power brokers are already making moves.
JPMorgan has since announced it will launch its own dollar-backed stablecoin, JPMD, built on Coinbase’s Base network. That's the largest U.S. bank issuing a U.S. stablecoin on a crypto-native Layer 2.
JPMorgan. Stablecoin. On-chain. On Base.
As I’ve covered a lot in the last few weeks, everything happening right now is centring around stablecoin integration with legacy systems and networks.
That step is crucial to the wider crypto adoption play because it’s stablecoins that act as the direct gateway from legacy TradFi into the crypto DeFi markets.
GENIUS, now through the senate has just unchained the floodgates, and (according to Treasury Secretary, Scott Bessent) the flood of capital is on its way.
Crypto's ‘Once Per Cycle’ Wealth-Building Moment Is Here
We’ve entered the next phase of the crypto cycle—where smart capital moves early and retail follows late. With fundamentals stronger than ever and institutional adoption accelerating, the window to act is now. While others wait for certainty, the informed few are positioning for outsized gains.
Those were the sage words of Bessent upon news of GENIUS passing the senate.
DefiLlama currently estimates the total stablecoin market at around $250 billion. The two most dominant players are Tether (USDT) and Circle (USDC)[2].
At the start of 2024, Tether held 71% of the stablecoin market, Circle 18%, the balance by smaller players. Today, Tether’s dominance is 62%, Circle’s 24%, and the next best is just 2%.
If the stablecoin market is set to explode more than 14-times bigger in the next four years, you have to ask yourself, who wins this stablecoin race?
What you’ll find covered in some detail in the GENIUS Act are tight controls, and powers by the Treasury on foreign stablecoin issuers. That sets the scene for U.S. based and backed stablecoin issuers to fly highest.
Right now, that puts Circle as the leading candidate, mainly because of their head start, and now successful partnerships integrating with big tech. But it also sets the scene for a couple of others, for at least the next three years, the Trump backed USD1, and then RLUSD (Ripple’s stablecoin).
It’s also why JP Morgan is moving so quickly. You can bet your bottom stablecoin that a JPMD will be quickly and easily accepted and integrated within their entire network.
It’s also why the rumours of Walmart and Amazon launching their own stablecoins instantly leapt to the surface of the crypto newswires.
And don’t expect it to stop there.
Remember when Facebook launched Libra, then renamed Diem trying to get their own stablecoin off the ground? The legislative pushback on Zuckerberg and Facebook was fierce back then. They ultimately bailed on it.
But how hard do you think it would be for Meta to now bring that back to life? I’m pretty sure they didn’t burn it all to the ground and delete all their files.
I think you can come to expect that you’ll begin to find corporate stablecoins almost as common as reward points. And they will provide benefits and discounts when used within a certain ecosystem…this is the benefit of programmable money.
But they will all also need a base layer denominator to exchange to and shift from A to B to C and so on. And that’s where the likes of USDC, RLUSD, JPMD will come into play. Tether will still of course be a big part of it, but at best, their reputation is shaky in the U.S. as it is. Leaning on the U.S. homegrown options I expect is more likely.
So, where to next?
The Next Steps
Well, GENIUS has passed the Senate. That’s great. But the bill now moves to the House of Representatives. That’s where the reconciliation process happens, likely involving tweaks to merge it with the STABLE Act, which focuses more on consumer protections and reserve transparency.
Once reconciled and passed by the House, it lands on the President’s desk for final sign-off.
If the House fast-tracks this, which I think they will, we could see it enacted within weeks.
Imagine that… by August, the President signing official stablecoin laws into action that unleashes his redollarization strategy on the entire global financial system.
Hold on tight, this ride is going to be fast, full of massive news and all leading towards the entire crypto market exploding into the mainstream in a way most people don’t see coming.