The passage of the GENIUS Act in July 2025 gave US banks a federal green light to issue payment stablecoins. Across the Atlantic, European institutions are making similar moves, with BNP Paribas joining a consortium to launch euro-denominated stablecoins by 2026.
From observation deck to trading floor
The GENIUS Act created a full regulatory framework that includes reserve requirements, anti-money laundering compliance, and restrictions on yield, essentially making stablecoin issuance look a lot like the kind of regulated activity banks already understand.
Citigroup estimates the stablecoin market could balloon to somewhere between $0.5 trillion and $3.7 trillion by 2030. Projections suggest that stablecoin growth could displace between $182 billion and $908 billion in traditional bank deposits by the end of the decade.
The technology play behind the strategy
