TechFlow, July 15 — According to Business Insider, Bank of America指出 that as the GENIUS Act heads for a vote in the U.S. House this week, the stablecoin market is poised for explosive growth, benefiting four major sectors: Ethereum, traditional banks, payment companies, and e-commerce platforms.
Ebrahim Poonawala, head of North American bank research at Bank of America, said Ethereum, as the core technology infrastructure for stablecoins, hosts over half of all existing stablecoins and has risen more than 18% over the past month. Traditional banks such as JPMorgan Chase and BNY Mellon are betting on stablecoin technology and could benefit from favorable legislation. Payment firms like Visa, Mastercard, and PayPal may also gain from increased stablecoin adoption. These companies have spent years developing stablecoin capabilities, allowing them to integrate new technologies into their existing infrastructures. E-commerce platform Shopify plans to launch USDC payment services, and its stablecoin functionality will enable merchants to connect more easily with global customers.
Poonawala expects full-scale development of stablecoin infrastructure will take three to five years.
