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Public · Published
One year ago today, stablecoins became American law The GENIUS Act was signed July 18, 2025. Twelve months later the results are visible: State Street, Invesco, BlackRock, and JPMorgan all run or have filed stablecoin reserve funds, Visa launched a platform serving 15,000
One year after the GENIUS Act was signed into law on July 18 2025, major financial firms such as State Street, Invesco, BlackRock and JPMorgan have started or filed stablecoin reserve funds, and Visa launched a platform that now serves 15,000 users.
Published:
Updated:
What happened
One year after the GENIUS Act was signed into law on July 18 2025, major financial firms such as State Street, Invesco, BlackRock and JPMorgan have started or filed stablecoin reserve funds, and Visa launched a platform that now serves 15,000 users.
Confirmed
Global impact / market context
The launch of stablecoin reserve funds by large asset managers shows institutional acceptance of digital dollars, while Visa’s platform expands everyday access, potentially increasing demand for stablecoins in payments and investment portfolios.
Analyst inference
The new legal framework created by the GENIUS Act removed regulatory uncertainty, encouraging banks and fintechs to develop stablecoin products, which could shift capital toward digital‑currency assets and reshape how investors manage cash equivalents.
Analyst inference
What to watch
- Regulatory guidance on reserve fund reporting, which will affect how firms disclose assets and could influence investor confidence. Proposed
- Adoption rates of Visa’s platform, as higher usage would signal broader consumer acceptance of stablecoins for everyday transactions. Proposed
- Competitive moves by other banks or fintechs launching similar stablecoin products, which could intensify market competition and affect fund flows. Proposed
Affected assets
- GENIUS — Genius