Stablecoins are moving beyond cryptocurrency trading and into mainstream banking as financial institutions explore faster, cheaper, and more efficient digital payment solutions. Markus Veith, Partner at Grant Thornton and National Industry Leader for Blockchain, Digital Assets and Web3 Solutions, speaks with Anastasia Kinsky at the Alpaca Partner Summit in Lisbon about the accelerating adoption of stablecoins among banks, credit unions, and fintech companies. He explains how the GENIUS Act is creating greater regulatory clarity and encouraging financial institutions to embrace stablecoin payments and cross border transactions.
With regulatory oversight becoming increasingly important, Markus Veith examines how stablecoin issuers are adapting to stricter reserve requirements, financial transparency standards, and independent auditing practices. Drawing on his experience with the AICPA Digital Assets Working Group, Veith explains the differences between proof of reserves and stablecoin reserve attestations, including how blockchain verification, asset ownership, and reserve valuations help establish trust in digital currencies.
The conversation also explores why fintech companies are increasingly pursuing Office of the Comptroller of the Currency trust charters as an alternative to navigating multiple state regulators. Veith discusses the challenges facing international applicants, the benefits of federal regulatory oversight, and how evolving regulatory frameworks in the U.S. and United Kingdom are opening new opportunities for stablecoin adoption. As traditional banking and blockchain technology continue to converge, the discussion highlights how regulation, transparency, and institutional trust could shape the next phase of digital finance.