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The upcoming US stable law prescribes full reserves, which is likely to benefit according to Stablecoin publishers like Coinbase.
The American regulation of Stablecoin is ready to have a significant impact on publishers. On Friday, April 17, Nansen published a report indicating potential winners of a stable law. According to the report, publishers such as Coinbase, Paypal and Vis are likely to be the largest users.
The stable law, which brought the US Financial Services Committee on April 2, provides a comprehensive regulation for Stablecoins. His goals are to protect the owners, ensure transparency by the publisher and strengthen the role of the US dollar.
Some of his provisions prescribe full reserves in cash or an American treasury and prohibit the payment of interest to the owners. At the same time, Stablecoin publishers must be licensed banks, approved state funds or companies regulated by the US Currency Supervisor Office.
Coinbase, Visa and Paypal in favor of a stable act
These provisions suggest that if the stable act goes by, the entities have already focused on being obtained the most. The biggest probable winner among them is Coinbase, the main distributor of the USDC Stablecoin.
USDC is already aligned with what American regulators are looking for. Furthermore, Circle focuses on transparency and has laid a test of strict EU regulations. For this reason, it is dominated by Euro-Stabloin issuing.
Paypal is another potential winner. He betrayed Pyusd in partnership with Paxos. Although Paypal is a great player of digital payments, Pyusd currently controls only 0.38% of the Stablecoin market share. However, with a stable act that is in force, Paypal could use Pyusd through his wider service package.
Other winners include Visa and MasterCard Giants Credit Card. These companies are already experimenting with Stablecoin, and Visa even tested USDC to settle the card. In the future, these companies could integrate stable data into their fundamental services.
The report is absent from USD1, Stabilcoin recently released by Trump-related World Liberty Financial. Although it fits the criteria Nansen chosen for the probable winners, it is not attached to a powerful ecosystem like Coinbase, Paypal and even Visa.
