ALT5 Sigma Corporation (ALTS) announced its support for the GENIUS Act, a new U.S. legislation that establishes a regulatory framework for the issuance and oversight of stablecoins. The Las Vegas-based company offers a blockchain-based payment and trading infrastructure for merchants and financial institutions.
"We believe this legislation represents a turning point," said Peter Tasiopoulos, CEO of ALT5 Sigma. "With a clear legal foundation now in place, American companies can finally build with confidence and leverage the transformative capabilities of blockchain technology."
The company stated that its infrastructure is designed to support the adoption of regulation-compliant digital assets and sees the legislation as aligning with the principles that are now being legalized in law. According to the company, stablecoins processed $27.6 trillion in transactions on the blockchain during 2024, surpassing the annual combined volumes of Visa and Mastercard.
ALT5 Sigma has processed over $5 billion in cryptocurrency transactions to date, supporting more than 1,000 companies worldwide. The company reported a surge in demand for stablecoin-related infrastructure as businesses seek to integrate blockchain-based payments into their existing operations.
The company operates two main platforms: ALT5 Pay, a cryptocurrency payment gateway for merchants, and ALT5 Prime, an over-the-counter trading platform for digital assets. ALT5 Pay allows merchants to accept cryptocurrency payments with options for conversion to traditional currencies or receiving payments in digital assets.
ALT5 Sigma is also advancing its business segment in biotechnology, which will continue under the name Alyea Therapeutics Corporation. The biotechnology division focuses on developing non-addictive pain relief medications, including JAN123, which has received orphan drug designation from the U.S. Food and Drug Administration for treating complex regional pain syndrome.
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