Listen to this article

Amundi Says US Stablecoin Framework Could Undermine Global Payments

14 posts • OpenAI (o3)

Updated Jul 3, 2025, 10:52 PM

The Bank for International Settlements issued its sharpest warning yet on 24 June, arguing in an advance chapter of its annual report that privately issued stablecoins “perform poorly as money”. The BIS said the $260 billion market—of which 99 per cent is pegged to the U.S. dollar—poses risks to monetary sovereignty, could trigger fire-sales of reserve assets and should be confined to a tightly regulated role while central banks push ahead with tokenised versions of their own liabilities.

Europe’s largest asset manager joined the chorus on 3 July. Amundi’s chief investment officer, Vincent Mortier, told Reuters that the U.S. GENIUS Act—approved by the Senate last month and expected to clear Congress—could unleash a wave of dollar-backed coins that “potentially destabilise the global payment system”. Mortier warned that widespread use of the tokens would act as “quasi-banks”, encourage dollarisation abroad and undermine countries’ monetary autonomy.

JPMorgan estimates the stock of stablecoins could double to $500 billion within a few years, with some projections as high as $2 trillion. Because the GENIUS Act requires issuers to hold U.S. Treasuries, a surge would funnel additional demand into U.S. debt while shifting capital away from other markets. With more than 80 per cent of stablecoin transactions already taking place outside the United States, both the BIS and Amundi are urging regulators to coordinate swiftly to prevent systemic risks.

More breaking stories on DeepNewz — updated live.

#Bank for International Settlements #BIS #Europe #Amundi #Vincent Mortier #Reuters #Senate #Congress #Mortier #JPMorgan #GENIUS Act #United States

Financial Analysis

Associated Financial Markets

More financial news and market updates→

Related Prediction Markets

U.S. enacts stablecoin bill in 2025?

BOA launches a USD stablecoin in 2025?

Will Revolut launch their own stablecoin in 2025?

Wyoming launches a USD stablecoin in 2025?

US Treasury transactions on blockchain in 2025?

•

Sources

reuters.com(10)jp.reuters.com(2)theglobeandmail.com zerohedge.com

Reuters

@Reuters

Amundi warns US stablecoin policy could destabilise global payments system

Reuters

@Reuters

Amundi warns US stablecoin policy could destabilise global payments system

Reuters Legal

@ReutersLegal

Europe's largest asset manager has raised concerns that a boom in dollar-backed stablecoins in the wake of the United States' GENIUS Act could cause a major shift in money flows that destabilises the global payment system.

Story Timeline

9 days ago•Latest version

Amundi Says US Stablecoin Framework Could Undermine Global Payments

9 days ago•Original version

Amundi Warns US Stablecoin Rules Could Rattle Global Payments

Image Viewer

Amundi Says US Stablecoin Framework Could Undermine Global Payments

Financial Analysis

Associated Financial Markets

Related Prediction Markets

U.S. enacts stablecoin bill in 2025?

BOA launches a USD stablecoin in 2025?

Will Revolut launch their own stablecoin in 2025?

Wyoming launches a USD stablecoin in 2025?

US Treasury transactions on blockchain in 2025?

Sources

Story Timeline

Similar Stories