US Firms Enter a Stablecoin Arms Race After GENIUS Act

[nihalsari]

Circle’s privacy-focused USDCx arrives as Wall Street accelerates stablecoin adoption following the US GENIUS Act. Citigroup is already testing blockchain payment rails with Coinbase, while JPMorgan, Bank of America and Western Union are building or piloting their own stable-asset systems. Even Visa is expanding its stablecoin programs. With dollar-backed tokens dominating over 85% of the market, corporate competition is heating up fast.

[Rimon Khan]

Regulatory clarity always triggers competition—this is just the start.

[Nahid Hossen]

We’re about to see a wave of corporate stablecoin experimentation.