Episode Details

U.S. banks are scrambling to delay the Genius Act, a significant stablecoin law, as crypto firms like Agora accelerate towards obtaining their own bank charters. Agoras CEO anticipates this, highlighting banks concern of losing deposits if stablecoins start providing genuine yields to users. This battle could revolutionize American finance, establishing a unified federal rulebook that treats stablecoin creators as banks, fostering more innovation in digital dollars. Agora has recently applied for a national trust bank charter, aiming for approval by the end of the year to reduce fees and develop custody and compliance tools, positioning the winner to dominate the future of on-chain money.

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