The stablecoin legislation that’s expected to pass in the Senate on Tuesday has the potential to be “exceptional” for retailers and will also make the United States the “crypto capital of the world,” Datavault AI Inc. CEO Nathaniel Bradley told Newsmax.
Bradley joined “National Report” to discuss The GENIUS Act and its impact on retailing. It was reported Friday that Walmart and Amazon are exploring their own stablecoins. The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins, will establish a federal regulatory framework for stablecoins.
Bradley said stablecoin has the potential to “provide retailers a lot of utility,” making them “attractive for the retailers.”
“The GENIUS Act stands to make America the crypto capital of the world,” Bradley said. “You know, these companies that are coming to stablecoin not only will save consumers money and transactions, but be able to transact faster. Also controlling a currency under their own brand name and having that brand affinity, they’re able to connect these coins to their loyalty programs and other programs, such as couponing, that allow for these stablecoins to really make a huge impact.”
Transacting with crypto can also be a boon for consumers, Bradley said.
“It really comes down to processing fees. I don’t think consumers are really sitting there saying, Oh, we wait too long for that credit card to authorize to get a payment across,” Bradley said. “So I think the speed piece is a bit, you know, a question mark with respect to the consumer experience.
“But certainly the fees if, if stablecoin allows retailers to reduce transactional fees, that is tantamount to savings to consumers direct. And I think that that could be something exceptional.”
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