Deep Tide TechFlow News, on July 15, reported by Business Insider, Bank of America pointed out that with the (GENIUS Act) set to be voted on in the U.S. House of Representatives this week, the stablecoin market is about to experience explosive growth, with four major market sectors set to benefit: Ethereum, traditional banks, payment companies, and e-commerce platforms.
Ebrahim Poonawala, head of North American bank research at Bank of America, stated that Ethereum, as the core technology for stablecoins, accounts for over half of the existing stablecoins and has risen more than 18% in the past month. Traditional banks, such as JPMorgan and the New York Bank, are betting on stablecoin technology and may benefit from friendly legislation. In the payment sector, Visa, Mastercard, and PayPal are also developing stablecoin functionalities, such as Mastercard's collaboration with Circle to enable USDC payments. E-commerce platform Shopify plans to launch USDC payment services. Poonawala expects that the comprehensive construction of stablecoin infrastructure will take three to five years.
