“What we should try to strive for is not tokenizing an asset but actually making sure that the legal tender is actually represented on the chain.” – 05:05
Yuval Rooz, CEO & Co-Founder of Digital Asset, joins Remy Blaire at the New York Stock Exchange to discuss the burgeoning global stablecoin market, which has recently surpassed $280 billion.
Yuval shares his perspective on the implications of the Genius Act, emphasizing the positive impact of regulatory engagement on the industry. He notes that the support from the U.S. administration and regulators has encouraged clients who were previously cautious about adopting blockchain technology to move forward with confidence.
The conversation shifts to the U.K. and its current approach to stablecoin strategy. Yuval explains that stablecoins have proven to be a successful on-chain use case, prompting governments worldwide, including the U.K. and South Korea, to consider legislation that aligns with the evolving financial landscape. He asserts that as the U.S. accelerates its regulatory framework, other countries are beginning to catch up.