A Bank of America report predicts stablecoins will disrupt traditional banking, boosted by the GENIUS Act's regulatory framework.
A Bank of America report forecasts that stablecoins will disrupt traditional bank deposits and payment systems in the next 2-3 years due to a new regulatory framework established by the GENIUS Act. The stablecoin market is projected to grow by $25-75 billion, increasing demand for U.S. Treasury securities. While banks remain cautious about domestic applications, they are exploring cross-border payment services, exemplified by JPMorgan's deposit tokens and BNY Mellon’s custody services.