MoneyGram Supports Stablecoin Bill as Key Business Development

MoneyGram’s CEO endorsed the stablecoin bill during a statement in the U.S., pointing to its potential to significantly impact business development and regulatory clarity in the payments industry.

MoneyGram’s CEO considers the stablecoin bill crucial for business development in the U.S., expecting it to improve payment systems and enhance regulatory clarity.

Senator Bill Hagerty, who sponsors the stablecoin bill known as the GENIUS Act, claims it will modernize U.S. payment systems and ensure consumer protection. MoneyGram CEO praises this alignment with the company’s plans for digital asset adoption.

The proposed bill, led by Senator Bill Hagerty, has the potential to increase adoption of USD-backed stablecoins like USDC and RLUSD. It is perceived as a concrete step toward regulatory clarity that MoneyGram’s CEO and others have supported.

Market stakeholders consider the bill’s implementation a strategic move as it could boost demand for U.S. treasuries and improve liquidity in digital assets. However, there have been no immediate financial shifts reported from major asset classes like BTC or ETH.

Prominent figures such as Senator Hagerty have emphasized that the GENIUS Act will pave the way for a safer, quicker payments ecosystem. He noted, “The GENIUS Act brings America’s payment system into the 21st century, cements U.S. dollar dominance, protects customers, [and] increases demand for U.S. treasuries.”

MoneyGram anticipates using this regulatory framework to broaden financial partnerships and cement its role in the fintech space.

The GENIUS Act could lead to improved infrastructure and more robust financial systems, as noted by historical precedents. Any regulatory changes will likely affect stakeholders and the adoption of USD-pegged tokens.