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The GENIUS Act, signed into law in July 2025, goes a long way toward normalizing the use of stablecoins in the U.S. economy.

Following its first-ever stablecoin-settled initial public offering (IPO), the digital asset firm's stock fell more than 6%.

MetaMask's dollar-backed mUSD stablecoin will first launch on the Ethereum and Linea blockchains later this year.