Alchemy’s Poncin predicts Post-Genius Act Stablecoin Boom
The U.S. Senate has approved the Genius Act, a move Guillaume Poncin calls a game-changer for stablecoins. As the CTO of Alchemy, Poncin believes this will push major financial institutions into the stablecoin arena.
alchemy collaborates with Visa, Coinbase, stripe, and Robinhood on stablecoin creation.Poncin argues that banks will soon issue their own stablecoins, fostering personalized blockchains.
Issuing stablecoins can boost bank revenues with treasury yields. Clients benefit from instant settlement and 24/7 access. poncin believes Circle and Tether will still play vital roles but in different niches.
- circle focuses on regulation and transparency.
- Tether prioritizes availability across markets.
Alchemy’s infrastructure supports both established issuers and new entrants. When it comes to blockchain layers, Poncin suggests Layer 2 for retail operations due to cost efficiency. However, layer 1 remains crucial for large-scale business transactions.
Ethereum benefits as Layer 2 networks still rely on it’s security. Alchemy’s rollups-as-a-service helps banks launch custom layer 2 networks. interoperability challenges are tackled with emerging cross-chain solutions.
Alchemy acts as a bridge, providing the necessary infrastructure for banks and institutions. Poncin notes post-SAB 121 repeal interest from major banks has
