“There’s a lot of tremendous amount of interest from banks, fintechs, digital asset companies, of course, and also corporate companies that are very interested in exploring how they can use stablecoin.” – 02:00
Glendy Kam, Chief Product Officer at Tassat Group, joins Remy Blaire at the New York Stock Exchange to discuss the evolving landscape of stablecoins and the implications of recent regulatory changes, particularly focusing on the Genius Act.
The discussion begins by Glendy analyzing the impressive earnings report from Wealth Circle, which highlighted a 53% revenue spike in Q2, driven by the growing demand for stablecoins. Wendy emphasizes that financial firms are not just looking for traditional stablecoins but are also interested in interest-bearing formats that maximize capital expenditures. This shift indicates a broader trend of traditional companies and institutions learning about blockchain technology and integrating it into their operations.
As the pair unpacks the implications of the Genius Act, Wendy explains how it has clarified the governance and regulation of stablecoins. With the passing of this act, there is now a clearer framework for how stablecoins should be defined and regulated, which has sparked significant interest from banks, fintechs, and corporate entities eager to explore stablecoin strategies.