All U.S. banks likely to issue their own stablecoins, says Alchemy CTO

With the GENIUS Act (the U.S. stablecoin regulatory bill) in place, Guillaume Poncin, CTO of Web3 development platform Alchemy, foresees that all U.S. banks will issue their own stablecoins and adopt blockchain infrastructure, according to Watcher Guru. Poncin highlighted that the GENIUS Act has created the first thorough regulatory framework for stablecoins in the U.S. By issuing their own stablecoins, Poncin reckons that U.S. banks will be able to capture the float from the reserves held against customer deposits, which at current interest rates could generate hundreds of millions of dollars in annual revenue. "They also maintain control over their customer relationships and transaction flows rather than ceding that to third-party issuers,” the Alchemy CTO added.