according to Phoenix Net, the latest research report from Bank of America Merrill Lynch shows that as the stablecoin regulatory framework in the United States gradually lands, stablecoins will have a disruptive impact on traditional bank deposits and payment systems in the next 2-3 years. The U.S. President has signed the "GENIUS Act", setting a preliminary framework for stablecoin regulation. In the short term, the stablecoin market is expected to grow by 250-750 billion U.S. dollars, boosting demand for short-term U.S. Treasury bonds. While major banks are cautious about domestic payment applications, they generally believe that cross-border payments are a feasible scenario and have begun to lay out related businesses, including JPMorgan Chase's deposit tokens and BNY Mellon's custody services.
