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Circle Plans to Adopt National Trust Bank Charter Under GENIUS Act; Stablecoin Market Eyed for Trillions by 2027

GateNews
Regulation & Policy
CRCL8.50%

According to Circle CEO Jeremy Allaire in a CNBC interview on July 20, the GENIUS Act will establish a unified federal regulatory framework for stablecoins in the U.S., with major issuers subject to national bank supervision. Circle plans to operate as a national trust bank under the new regime.

Allaire stated that stablecoins are transitioning from digital trading assets into payment and capital market infrastructure. Once the Act takes effect in January 2027, banks, payment firms, and enterprises will use stablecoins as "digital cash," potentially driving the market from $1 trillion to trillions of dollars in coming years.

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