#GENIUSActPass Each bank will issue a stablecoin after the approval of the GENIUS Act: CTO of Alchemy

Guillaume Poncin from Alchemy predicts that the approval of the Genius Act will soon attract major financial institutions to the stablecoin business.

The U.S. Senate has approved the Genius Act, which brings the long-awaited regulatory clarity to stablecoins. With this advancement, major financial institutions are expected to launch their own stablecoins. Guillaume Poncin, Chief Technology Officer of Alchemy, gave an interview to crypto.news. Alchemy collaborates with Visa, Coinbase, Stripe, and Robinhood in the issuance of stablecoins.

So far, major banks have been waiting for clear regulations, a need that the new bill addresses. Poncin believes that in the future, each bank will issue its own stablecoin and operate its own blockchain.