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Morning Edition · Wednesday, September 30, 2026Published at 2:00 AM EDT · New York
The Federal Reserve's two-day stablecoin redemption clock reaches issuers, not exchange customers
A venue snapshot puts about $76 billion of stablecoins on trading platforms where the exit depends on the exchange, while El Salvador and Japan push stablecoin payments to retail users.
The Federal Reserve's draft rules under the Guiding and Establishing National Innovation for United States Stablecoins Act (GENIUS Act) would require payment-stablecoin issuers it supervises to process redemptions within two business days,…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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