Alchemy’s Poncin Predicts Major Banks to Enter Stablecoin Market Post-Genius Act
The U.S. Senate’s passage of the Genius Act brings much-needed regulatory clarity to the stablecoin sector. As an inevitable result, major financial institutions are poised to enter the stablecoin business. Alchemy, wich collaborates with giants like visa and Coinbase, believes this move is imminent. Guillaume Poncin, Alchemy’s CTO, discussed this shift with crypto.news.
Poncin envisions a future where every bank issues its own stablecoin and operates a blockchain. Bank-issued stablecoins could bring in meaningful annual revenue through treasury yields and control over customer relationships and transaction flows.
For customers,the advantages include real-time settlement,24/7 availability,and trust. Poncin believes that while major issuers like Circle and Tether will still be key in crypto-native and international transactions,banks will focus on corporate treasury needs and regulated flows.
alchemy plays a crucial role in this transition. As they power USDC, they provide the necessary infrastructure, making blockchain accessible without requiring financial institutions to become blockchain experts. They offer tools and APIs for transactions and complex DeFi integrations.
Following the Genius Act and the SAB 121 repeal, inquiries from major banks have surged. They’re not asking if they should move, but how quickly they can. Alchemy aims to make this transition smooth and
