U.S. Treasury Secretary: The GENIUS Act will promote the stablecoin market to reach $3.7 trillion and benefit the U.S. bond market

ChainCatcher News, U.S. Treasury Secretary Basant stated on social media, "Recent reports predict that by the end of 2030, the stablecoin market could grow to $3.7 trillion. With the passage of the GENIUS Act, this prospect becomes even more promising.

A thriving stablecoin ecosystem will drive private sector demand for U.S. Treasury bonds— which are the asset backing for stablecoins. This new demand could lower government borrowing costs and help control national debt. At the same time, it could open the door to a dollar-based digital asset economy for millions of users worldwide.

This is a win-win-win situation for all parties involved: the private sector benefits; the U.S. Treasury benefits; consumers benefit. This is the result of wise, innovation-supporting legislation."