The US GENIUS Act may catalyze stablecoin adoption while inadvertently driving capital towards tokenized real-world assets due to its ban on yield-bearing stablecoins. Will Beeson, founder of Uniform Labs and former Standard Chartered executive, highlighted that institutions will seek compliant avenues for yield as they hold trillions in non-interest-bearing stablecoins. Beeson’s firm is developing Multiliquid to enable real-time conversions between tokenized assets and stablecoins, responding to the demand for liquid yield generation. The act brings legitimacy to digital currencies but suggests that the next era will focus on asset tokenization, which can democratize access to investment opportunities in sectors like real estate and private equity. Currently, the tokenization market stands at nearly $26 billion, with expectations of growth into sectors beyond private credit and government bonds, including commodities and equities.

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