Q2 2025 Bank Executive Business Outlook Survey Report

On July 18, President Trump signed into law the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” (S.1582, also known as the “GENIUS Act”), pegging stablecoins one-to-one to the U.S. dollar and requiring them to be backed by safe assets such as Treasuries. The new law also restricts stablecoins from bearing interest, a provision sought by insured depository institutions.

Yet 96% of senior executives surveyed in IntraFi’s Q2 2025 Bank Executive Business Outlook Survey are concerned that companies such as Amazon and Walmart will find a way to get around the GENIUS Act rules for stablecoins. A number of banks are expected to enter the stablecoin market. J.P. Morgan Chase, Goldman Sachs, and BNY (among others) have announced they are moving forward on stablecoins and/or deposit tokens. But over half (52%) of bankers surveyed say stablecoins and deposit tokens are not a priority for their bank and do not anticipate any changes as a result of the GENIUS Act.

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