Recently, Visa CEO Ryan McInerney discussed the impact of the new stablecoin regulation law, known as the GENIUS Act.
Stablecoin Regulation and Its Impact
The approval of the GENIUS Act by the U.S. Senate marks a significant step for stablecoin regulation in the finance sector and tech companies. The legislation is expected to pass the House of Representatives soon, providing legal clarity.
Visa's Approach to Stablecoins
Visa is actively working on integrating stablecoins into its payment network. McInerney noted that the company is updating its infrastructure to create stablecoin-based Visa credentials and optimize its processes.
Market Dynamics and Visa's Stock
After the Senate's approval of the GENIUS Act, a decline in Visa's stock prices was observed. Short-term stock value dropped to $350, below the past year's peak of $375. However, Visa's management believes stablecoin regulations will not hinder its long-term growth objectives.
As the technological transformation accelerates, Visa and other major companies continue to invest in integrating new financial tools like stablecoins to remain competitive in the market.
