Multicoin Exec Says GENIUS Act Will End Banks’ ‘Rip-Off’ of Retail Depositors with Low Rates

Multicoin Capital managing partner Tushar Jain predicted that the GENIUS Act will trigger a competitive upheaval in retail banking with major technology companies like Meta, Google, and Apple poised to challenge traditional banks by offering stablecoin products with superior yields and user experiences leveraging their massive distribution networks.

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