The US GENIUS Act may boost stablecoin adoption, but its ban on yield-bearing stablecoins could drive trillions into tokenized real-world assets.
The landmark US GENIUS Act could serve as a major catalyst for stablecoin adoption both domestically and abroad. But rather than simply boosting demand for dollar-backed digital currencies, it may unintentionally push capital into the tokenization market as investors seek yield on their holdings.
That was one of the key takeaways from a recent interview with Will Beeson, a former Standard Chartered executive and now founder and CEO of Uniform Labs, a developer of institutional liquidity solutions for tokenized financial markets.
A central provision of the GENIUS Act is its blanket ban on yield-bearing stablecoins, which prevents holders from earning interest on their digital dollar balances. According to Beeson, this restriction will accelerate the flow of capital into tokenized real-world assets (RWAs).
