Chainlink Enhances Infrastructure for US Stablecoin Market Transition
The US stablecoin market is poised for change with the impending approval of the GENIUS Act. Chainlink CEO Sergey Nazarov stated that his platform is ready to meet the demand for proof-of-reserves and cross-chain connectivity.
- Nazarov anticipates that US stablecoin regulations will drive global adoption.
- Stablecoins will require proof of reserves and cross-chain connectivity for effective use in the digital asset economy.
- Chainlink offers a unified solution integrating proof of reserves and compliance features, enhancing stablecoin transactions.
- The GENIUS Stablecoin Act is set for a final Senate vote on June 17, 2025, after extensive discussions and revisions.
- Major companies like Amazon and Walmart are considering issuing USD-pegged stablecoins in light of the potential regulatory changes.
The approval of the GENIUS Act is expected to have significant implications for the stablecoin landscape.