"Implementing the GENIUS Act is critical to ensuring U.S. leadership in digital assets," said Mr. Bescent, the Treasury secretary. "Stablecoins will expand access to billions of dollars globally and lead to a surge in demand for Treasuries."
Since the passage of the GENIUS Act in July, the supply of income-generating stablecoins has surged. The data shows that the biggest beneficiaries are Ethena's USDe and Sky's USDS, which earn when staked in their respective protocols. According to DefiLlama data, since July 18, USDe's circulating supply has increased by 70%, surpassing $10 billion, making it the third largest market cap among all stablecoins. During the same period, USDS's circulating supply has risen by 23%, approaching $4.81 billion, and the market cap is fourth.
US Treasury Secretary: Stablecoins will expand global access to the dollar and lead to a surge in demand for US Treasury bonds
2025-08-18 23:50:33
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