Jesse McWaters, Mastercard's global policy director, stated that the GENIUS Act represents a pivotal moment for stablecoin adoption, facilitating institutional entry and the development of compliant stablecoins. The legislation is seen as providing regulatory clarity and confidence, enabling regulated institutions to issue U.S. dollar-backed stablecoins. Major companies like JPMorgan Chase, Citi, Bank of America, Amazon, and Apple are reportedly advancing plans in response to this development. McWaters emphasized Mastercard's long-term preparation for this shift.