Coinbase Chief Executive Brian Armstrong has urged that U.S. stablecoins must remain globally competitive as lawmakers debate the GENIUS Act. Armstrong’s comment followed Shirzad’s warning that the strategic stakes of the U.S. remain high under the GENIUS Act, and that policymakers should view stablecoin policy through a global competitiveness lens. He argued that U.S. lawmakers should ensure that the GENIUS Act would make U.S. dollar stablecoins issued under U.S. rules the primary settlement instrument of the future, warning that missteps in Senate negotiations could give non-U.S. stablecoins a critical competitive advantage.
Separately, the People’s Bank of China said it plans to pay interest on holdings of the digital yuan and hold it not in parallel to cash but deposits. Ripple’s RLUSD has surpassed $1 billion in market capitalization, indicating growing institutional demand. RLUSD has traded consistently near its $1 peg over the past year.
The stablecoin is also used in cross-border payment workflows with institutions such as Mastercard and Singapore-based DBS. Ripple said RLUSD crossed a $1 billion market capitalization in November and is being used for institutional settlement and tokenized fund liquidity by firms including BlackRock and VanEck.
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