GENIUS Act Pushes Stablecoin Capital Toward Tokenized Assets

The U.S. GENIUS Act, which bans yield-bearing stablecoins, is expected to drive institutional demand toward tokenized real-world assets (RWAs) rather than deter interest in digital finance, according to Will Beeson, founder and CEO of Uniform Labs and former Standard Chartered executive [1]. The legislation, a key policy under President Donald Trump’s economic agenda, eliminates the ability for stablecoin holders to earn interest on their balances, prompting a strategic shift in how institutions manage liquidity and yield [1].

Beeson explained that rather than sitting on non-interest-bearing stablecoins, institutional investors are likely to seek yield in tokenized markets. “Capital is already shifting,” he said, emphasizing that institutions will look for compliant ways to access yield while maintaining liquidity [1]. This trend, he suggested, is accelerating as trillions of dollars in stablecoins are poised to enter digital finance channels.

To address this growing need, Beeson’s firm is developing Multiliquid, an institutional liquidity layer for tokenized markets. The platform aims to enable real-time, programmable conversion between stablecoins and high-quality tokenized assets such as U.S. Treasurys and money market funds [1]. With an open-architecture design, Multiliquid allows compliant issuers to integrate without the need for commercial agreements, lowering barriers to entry and fostering scalability.

Beeson confirmed that the company is working with major institutions, fintechs, and stablecoin issuers ahead of a production launch later this year, though specific partners have not been named [1]. Before founding Uniform Labs, Beeson was chief product officer at Libeara, a tokenization platform incubated by Standard Chartered’s SC Ventures.

The broader tokenization market, which reached nearly $26 billion in 2025, has primarily focused on private credit and government bonds. However, Beeson and others in the industry anticipate that the disruption will extend into corporate bonds, credit funds, commodities, equities, real estate funds, and even private equity and real estate assets [1]. This expansion is driven by the ability of tokenization to fractionalize assets, making previously exclusive investment opportunities more accessible to a wider range of participants [1].

Sandra Waliczek, a member of the World Economic Forum’s blockchain and digital asset division, echoed these sentiments, noting that tokenization is reshaping the investment landscape by enabling broader participation in asset classes like real estate and private equity [1]. The shift away from idle stablecoin balances toward tokenized assets is seen as a natural progression in the evolution of digital finance.

While the GENIUS Act provides regulatory clarity for stablecoins, it also signals a pivot toward asset tokenization as the next major development in the digital asset space. As Beeson put it, the future is not about holding idle stablecoins but about enabling programmatic access to risk-free yield and the flexibility to move between cash and high-quality assets seamlessly [1].

Source: [1]GENIUS Act scrutinized for stablecoin yield ban as TradFi tokenization gains steam (https://cointelegraph.com/news/genius-act-stablecoin-ban-tokenization-growth?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)