Morning Minute: A Big Day for Stablecoins
Stablecoins are becoming more integrated into the U.S. financial system. Visa has expanded its USDC-based settlement program to U.S. banks, enabling institutions to settle payments with Circle’s USDC on Solana blockchain. This allows for onchain settlements outside regular banking hours and integrates with Visa’s treasury systems. Simultaneously, the FDIC approved a proposed rule to implement the GENIUS Act, detailing how FDIC-supervised banks could issue payment stablecoins through subsidiaries, with requirements for high-quality reserves, governance, and compliance frameworks. These moves indicate stablecoins are evolving from niche crypto assets into foundational payments infrastructure. Industry leaders at Visa and Cross River Bank confirm rising demand from fintechs and banks for stablecoin solutions. The convergence of major financial companies and regulatory clarity is accelerating institutional adoption of stablecoins. BlackRock's outlook views stablecoins as a major force for the global economy by 2026, a prediction that now appears likely.
