GENIUS Act Sparks Rise in Stablecoin Adoption, EY Survey
The post GENIUS Act Sparks Rise in Stablecoin Adoption, EY Survey appeared on BitcoinEthereumNews.com. GENIUS Act drives stablecoin adoption in U.S. firms, boosting faster, cheaper cross-border payments and fueling confidence in digital financial instruments. The adoption of stablecoins among U.S. companies is accelerating, driven by new regulatory clarity and rising interest in faster, cheaper cross-border payments. This new momentum is reflected in a recent survey by EY-Parthenon in June 2025, a few weeks after the U.S. Senate passed the GENIUS Act. Survey Shows 13% of Companies Already Using Stablecoins for Payments The survey, which involved 350 executives in the financial and corporate sectors, shows that 13 percent of companies use stablecoins already. The majority of these companies are transacting international money transfers through them. The system is quicker to settle and its transaction costs are much lower than those incurred with the conventional banking systems. In addition, the survey also indicated that of the companies that are yet to adopt stablecoins, 54 percent are likely to start in the next six to twelve months. The adoption of the GENIUS Act on July 18, 2025, directly caused this change in opinion. The act has established a legal framework on U.S dollar-backed stablecoins, providing some degree of certainty that had been missing among many businesses. Related Reading: Bank of Italy Flags Risks in Globally Issued Stablecoins | Live Bitcoin News The GENIUS Act contains elaborate instructions on the way stablecoins are to be issued, administered, and controlled. It defines a proper issuer approval process, defines reserve requirements to support digital assets, and provides the treatment that these instruments should receive regarding taxation and custody. Both the existing financial institutions and the newer fintech companies that have been growing up have welcomed these changes to augment the digital payment offerings. Consequently, it became the case that in the eyes of many U.S. companies, stablecoins are no longer…
The post GENIUS Act Sparks Rise in Stablecoin Adoption, EY Survey appeared on BitcoinEthereumNews.com.
GENIUS Act drives stablecoin adoption in U.S. firms, boosting faster, cheaper cross-border payments and fueling confidence in digital financial instruments. The adoption of stablecoins among U.S. companies is accelerating, driven by new regulatory clarity and rising interest in faster, cheaper cross-border payments. This new momentum is reflected in a recent survey by EY-Parthenon in June 2025, a few weeks after the U.S. Senate passed the GENIUS Act. Survey Shows 13% of Companies Already Using Stablecoins for Payments The survey, which involved 350 executives in the financial and corporate sectors, shows that 13 percent of companies use stablecoins already. The majority of these companies are transacting international money transfers through them. The system is quicker to settle and its transaction costs are much lower than those incurred with the conventional banking systems. In addition, the survey also indicated that of the companies that are yet to adopt stablecoins, 54 percent are likely to start in the next six to twelve months. The adoption of the GENIUS Act on July 18, 2025, directly caused this change in opinion. The act has established a legal framework on U.S dollar-backed stablecoins, providing some degree of certainty that had been missing among many businesses. Related Reading: Bank of Italy Flags Risks in Globally Issued Stablecoins | Live Bitcoin News The GENIUS Act contains elaborate instructions on the way stablecoins are to be issued, administered, and controlled. It defines a proper issuer approval process, defines reserve requirements to support digital assets, and provides the treatment that these instruments should receive regarding taxation and custody. Both the existing financial institutions and the newer fintech companies that have been growing up have welcomed these changes to augment the digital payment offerings. Consequently, it became the case that in the eyes of many U.S. companies, stablecoins are no longer…
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