BlockBeats news, on July 21, Bank of America Merrill Lynch's latest research report shows that as the regulatory framework for stablecoins in the United States gradually takes shape, stablecoins will have a disruptive impact on traditional bank deposits and payment systems in the next 2-3 years. The U.S. President has signed the (GENIUS Act), setting an initial framework for stablecoin regulation. In the short term, the stablecoin market is expected to grow by $25-75 billion, which will boost demand for U.S. short-term government bonds.
Although major banks are cautious about domestic payment applications, they generally believe that cross-border payments are a feasible scenario and have begun to lay out related businesses, including JPMorgan's deposit tokens and BNY Mellon’s custody services. (Phoenix Network)
