Dollar's Digital Makeover: Is Trump's Plan on Track?

The GENIUS Act and Crypto Industry Support

Trump's Plan in Motion

• GENIUS Act: Aimed at modernizing outdated financial infrastructure.
• Crypto Support: Trump praises crypto's rapid growth and potential to revolutionize finance.

Strengthening the Dollar

• Stablecoins: Believed to bolster the dollar's global standing.
• Dollar Value: Concerns over fluctuations; Bitcoin's inverse relationship with the dollar.

Treasury Department's Role

Regulating Stablecoins

• Framework: Establishing regulations for stablecoins and issuers.
• Federal Oversight: Allowing banks and payment firms to issue stablecoins.

CBDC Ban

• No CBDC: Trump bans exploration of a central bank digital currency.
• Implementation: Details still being worked out.

Evolving Payment Landscape

Traditional vs. Crypto Systems

• Legacy Systems: FedNow and RTP processing billions in transactions.
• Crypto Rails: Offer 24/7 uptime and programmability.

Card Network Integration

• Visa and Mastercard: Expanding support for stablecoin settlements.
• Consumer Experience: Enabling stablecoin movement without changing checkout.

Future Outlook

Gradual Adoption

• Final Rules: Expected by 2026.
• Factors: Bank access, capital treatments, pricing of payment corridors.

Multi-Rail Stack

• Stablecoins and Tokenized Deposits: Handling settlements in the background.
• Consumer Experience: Maintaining while pushing towards crypto rails.