In a recent milestone event, the signing of the GENIUS Act marks a new development opportunity for the PayFi sector. This is not only an affirmation of individual enterprises but also a symbol of the high recognition gained by the entire payment finance (PayFi) industry.

With the rapid rise of stablecoin applications centered around PayFi, we are witnessing a revolutionary change in global payment methods. This new payment model is expected to replace the traditional SWIFT system and enable instant settlements on a global scale.

A leading PayFi company stated that their mission is to accelerate the global circulation of currency and achieve round-the-clock financial services. As early as 2023, the company partnered with Circle to provide payment institutions with innovative solutions based on stablecoins, replacing outdated pre-funding requirements. Their on-demand USDC liquidity solution has been rapidly developing, with last month's trading volume surpassing $5 billion, and is expected to reach $10 billion by the end of the year.

Despite the strong demand for PayFi solutions from large institutions, many have hesitated to fully adopt them due to regulatory uncertainties surrounding stablecoins. The introduction of the GENIUS Act has completely changed this situation. With the United States taking the lead, a significant increase in global institutional adoption is expected.

The core concept of PayFi is to provide the freedom of choice. On the trading level, some companies have established strategic partnerships with Solana and Stellar. On the currency level, USDC is the main foundation, while some companies have also joined the Global Dollar program. Partners in the PayFi ecosystem can choose the most suitable solutions at each layer based on their own needs.

The signing of the GENIUS Act not only recognizes stablecoins and PayFi, but will also promote the development of the entire cryptocurrency industry. We are participating in a great transformation that will change the global financial landscape, and the future of blockchain technology is full of unlimited possibilities. As long as we maintain perseverance and patience, we believe that the beautiful vision of the industry will ultimately be realized.