Mastercard exec: GENIUS Act marks a “turning point” for stablecoin adoption

Odaily News Jesse McWaters, global policy director at Mastercard, said the GENIUS Act marks a turning point for the mainstream adoption of stablecoins, which is expected to drive institutional entry and promote the development of compliant stablecoins. He believes that the bill has ushered in a new era of regulatory clarity and confidence in digital assets, allowing regulated institutions to issue stablecoins backed by the U.S. dollar. Several institutions, including JPMorgan Chase, Citi, Bank of America, Amazon and Apple, are already advancing related plans. McWaters added: Mastercard has been preparing for this moment for a long time. (DLNews)