Exclusive: Alchemy's CTO Predicts a Stablecoin Revolution Post-Genius Act!

Hold onto your hats, crypto fans! Guillaume Poncin, the brain behind Alchemy, just dropped a bombshell. He's predicting that the newly passed Genius Act will send major financial giants sprinting into the stablecoin arena!

The Genius Act Lights the Fuse

The U.S. Senate just pulled the trigger on the Genius Act, finally giving the clarity that's been missing from the stablecoin scene. And guess what? Big banks are ready to jump in with their own stablecoins. Poncin spilled the beans in a fire-hot interview. Alchemy's not just talking the talk; they're walking it with Visa, Coinbase, Stripe, and Robinhood, all gearing up for stablecoin action.

Until now, banks have been playing it cool, waiting for the green light on regulations. But with the Genius Act, it's game on! Poncin's vision? A future where every bank's got its own stablecoin and its own blockchain running the show.

The Big Question: What's In It For Them?

crypto.news: You've been throwing around the idea that banks will soon be rolling out their stablecoins and running their blockchains. What's the big win for them and their clients?

GP: For banks, it's all about the money, honey! Issuing their own stablecoins lets them rake in the cash from treasury yields, we're talking hundreds of millions a year at today's rates. Plus, they keep the customer love and control the transaction flow, no third-party needed.

And for clients? They get instant action, 24/7 access, and programmable cash backed by the trust and protection of traditional banking. With the right Web3 setup, banks can dive into this without years of blockchain headache.

What About the Big Dogs Like Circle and Tether?

CN: If banks start playing in the stablecoin sandbox, what's the deal for the big players like Circle and Tether?

GP: Circle and Tether? They're the OGs for crypto natives and global transfers. Banks will carve out their own niche, hitting up corporate treasuries, regulated flows, and blending with existing banking services. Having your own stablecoin means more control and the chance to make some sweet yield.

The market's exploding, and there's room for everyone. Circle's IPO on the horizon? It's proof that traditional finance gets the stablecoin game. At Alchemy, we're powering the engines for both the old guard and the banks stepping up. The field's wide open for new moves and market growth.

How Do Circle and Tether Play the Game Differently?

CN: With Alchemy powering USDC (through Circle), how do Circle and Tether differ in minting, compliance, and building their tech?

GP: Circle's playing it by the book, all transparent and cozy with the regulators. That's why USDC's the go-to for institutions and the big finance crowd.

Tether? They're all about being everywhere, fast and loose, a global liquidity machine.

On the tech side, Circle's cautious, sticking to one chain, while Tether's all about spreading out across multiple chains. It's a trade-off: institutions might go for USDC's clarity, while the adventurous developers and emerging markets might chase Tether's reach.

Layer 1 or Layer 2: What's the Banks' Play?

CN: Blockchain's a beast to manage and secure. Do you think banks will lean towards layer-1 or layer-2 networks? And what's that mean for the Ethereum giants?

GP: It's all about what you're aiming for. For big B2B moves, banks might stick to layer 1 for that ironclad security. But for the everyday retail stuff, layer 2 is where it's at—cheap, customizable, and they can even make money off the transactions. Coinbase's already pulling in over $200 million a year from their layer-2, Base.

This is actually a win-win for Ethereum. Layer 2s settle on Ethereum, so they're riding its security wave. We're in the middle of a layer-2 boom, with specialized chains for everything from payments to identity. Banks can pick or build the perfect layer 2, and with Alchemy's rollup-as-a-service, they get Ethereum's security with full control over everything from fees to execution.

How Will Bank Blockchains Talk to Each Other?

CN: Banks need to chat constantly to keep transactions flowing. What's your vision for interoperability between their blockchains?

GP: Interoperability's the big puzzle, but we've got solutions on the way. We're seeing cross-chain messaging, shared sequencers, atomic swaps—all without the need for trust and with instant results.

I see a future where bank chains connect like international wires, but without the wait. Eventually, we'll get even smarter setups, maybe shared rollup infrastructures where banks can keep their sovereignty and still play nice with others.

Alchemy's Role in the Bank's Blockchain Adventure

CN: What's Alchemy's part in helping these financial heavyweights dive into blockchain?

GP: We're the backbone making blockchain easy for the big players without turning them into blockchain nerds. Think of us as the AWS of Web3. We handle all the heavy lifting so banks can focus on building cool stuff.

We've got the APIs and tools powering everything from simple checks to complex DeFi setups. We're in the trenches with major banks and fintechs, helping them with everything from keeping assets safe to launching their own chains.

Since the SAB 121 got the boot, we've been swamped with banks asking, "How fast can we jump in?" We're here to make sure they can hit the ground running.