Mastercard Executive: The GENIUS Act Brings a "Turning Point" for Stablecoin Adoption

Jesse McWaters, Global Policy Lead at Mastercard, stated that the GENIUS Act marks a "turning point" for the mainstream adoption of stablecoins, which is expected to drive institutional participation and promote the development of compliant stablecoins. He believes that the Act ushers in a "new era of regulatory clarity and confidence in digital assets," allowing regulated entities to issue stablecoins backed by the US dollar. Several institutions, including JPMorgan, Citigroup, 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)