Coinbase chief executive Brian Armstrong believes that the signing of a stablecoin bill into law marks the beginning of a new financial era in the US.

On July 18th, President Trump signed the GENIUS Act into law with the aim of strengthening the US dollar’s reserve currency status and making America the “undisputed leader” in digital assets.

The law establishes a regulatory framework for stablecoins, cryptocurrencies pegged to the US dollar, requiring each token to be fully backed by liquid assets such as cash or short-term US Treasuries.

In a new CNBC interview, Armstrong says the law has put the US in a position to move money efficiently across the globe.

“This stablecoin bill passing into law is really a financial revolution for America. It means crypto can finally start updating the financial system, especially for our payments, which are running on these creaky old systems that are decades old. Now, every payment in our economy can be fast, cheap and global – under one second, one cent, anywhere in the world.” 

According to Armstrong, he now expects blue-chip companies to start using stablecoin payments to reduce transaction costs.

“Now that we have clear legislation, we’re going to see the Fortune 500 really start to adopt stablecoins. We’ve started to see this a little bit already even with the news that this was going to pass in the near future. Coinbase just launched an integration with Shopify, for instance, and we’ve seen announcements from Walmart and Amazon. Almost every Fortune 500 company is now coming in and starting to look at stablecoin payments.

This is a big opportunity for us. It’s a TAM (total addressable market) expansion for our business. And we think that we can provide these wallets and payment APIs for the whole financial system and every company, eventually.”

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Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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Last updated: 

June 2, 2025

Crypto industry groups are urging US lawmakers to advance a landmark stablecoin bill as it heads to the Senate floor this week, warning that unrelated amendments could derail long-awaited regulatory clarity.

The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is poised for Senate debate, following a procedural green light on May 19.

The measure, which would establish clear rules for stablecoin issuance and oversight, is expected to have sufficient votes to move to the House.

Crypto Groups Urge Lawmakers to Prioritize Stablecoin Oversight Bill

Several crypto advocacy organizations, the Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund, issued a joint statement on June 2, calling on lawmakers to prioritize the bill’s “targeted and comprehensive approach to stablecoin oversight” as it advances through potential amendments.

After initial Democratic hesitation due to concerns over former President Donald Trump’s crypto ties, including a family-backed stablecoin initiative, support for the bill has strengthened in recent weeks.

However, the legislation faces a new hurdle: a proposed amendment on credit card fees.

Senators Dick Durbin and Roger Marshall are pushing to attach the Credit Card Competition Act (CCCA), which would force networks like Visa and Mastercard to compete on swipe fees charged to merchants.

The move is strongly opposed by banks and card companies, who argue it represents government overreach.

Crypto advocates fear the controversial amendment could derail progress.

“Unacceptable,” is how James Czerniawski of Americans for Prosperity described the proposal, adding that it would harm consumer credit access.

Additional proposed amendments include enhanced disclosure rules for government officials holding stablecoins, restrictions on foreign and Chinese ownership of stablecoin issuers, provisions addressing Trump family crypto involvement, and updates to Bank Secrecy Act and Anti-Money Laundering regulations.

Without consensus on these amendments, procedural delays could push final Senate passage into the week of June 9, according to journalist Eleanor Terrett.

Stablecoin Market to Surge 10x to $2 Trillion by 2030

Citigroup has projected a dramatic rise in the stablecoin market, forecasting that its total market capitalization could soar from nearly $240 billion today to over $2 trillion by 2030.

The prediction says the growth in adoption would be driven by regulatory developments and increased interest from both financial institutions and the public sector.

According to the banking giant, stablecoin supply could reach $1.6 trillion by the end of the decade under its base-case scenario, while a more optimistic outlook places the figure at $3.7 trillion.

As reported, the number of active stablecoin wallets has surged by over 50% in the past year, reflecting growing adoption and engagement within the digital asset ecosystem.