Three Stablecoin and Tokenization Blockchains Raise Over $1 Billion, Driven by GENIUS Act, Says Bitwise CIO

According to Bitwise Chief Investment Officer Matt Hougan, on May 13, three blockchains focused on stablecoins and tokenized assets—Arc (backed by Circle), Canton Network, and Tempo (supported by Stripe)—collectively raised over $1 billion.

Hougan attributed the surge to the U.S. GENIUS Act, passed in July 2025, which resolved prior regulatory obstacles and accelerated institutional capital inflows into the stablecoin and tokenization sectors. He identified the CLARITY Act as the market’s next key catalyst, noting its potential to further drive tokenization and compliant financial infrastructure development. Hougan added that major traditional finance players, including Goldman Sachs, Citadel, Nasdaq, Visa, and OpenAI, are intensifying competition in on-chain infrastructure, signaling growing institutional commitment to blockchain and asset tokenization markets.