Genius Act in Effect for Half a Year: The Battle Between Crypto Remittances and Traditional Giants

NonFungibleDegen · 2026-01-17T12:20:10+00:00

The Genius Act, which took effect last July, has sparked competition in the $9 trillion global remittance market, challenging traditional giants with cryptocurrency companies. While traditional firms have advantages in regulation and infrastructure, crypto companies leveraging stablecoins for low-cost and fast cross-border payments may lead to a competitive deadlock. Future development will need to focus on balancing innovation and risk.

NonFungibleDegen

2026-01-17 12:20:10

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【Crypto World】Since the Genius Act took effect in July last year, it has begun to stir the $900 billion global remittance market. Competition between cryptocurrency companies and traditional giants like Western Union and MoneyGram is heating up.

In response, Nate Svensson, senior equity research analyst at Deutsche Bank, believes that traditional remittance companies still have confidence in the short term — after all, they have built a comprehensive regulatory framework and infrastructure around the world over many years, which cannot be surpassed overnight.

However, Jessica Wachter, finance professor at Wharton School, points out another perspective: the killer feature of crypto-native companies lies in the flexible application of stablecoins, which are low-cost and fast across borders. Conversely, if traditional remittance companies also start integrating stablecoin technology into their existing fiat systems, the outcome could be quite awkward — both sides might end up in a strange cycle of “competing with themselves.”

This upheaval has just begun, and how it will evolve depends on how each side balances innovation and risk.

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CounterIndicator

· 01-20 11:28

What is Western Union panicking about? Once stablecoins are widely adopted, traditional giants will have to obediently kneel and integrate technology. At that point, competing with themselves will be just funny.

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BearMarketBuilder

· 01-20 02:36

Western Union's old-timers are really panicking now; stablecoins hit hard right from the start. Once traditional institutions start using stablecoins, aren't they just cutting themselves off? Haha. A 900 billion dollar cake—everyone wants a piece. This is the real big show. The Genius Act truly changed the rules; finally, there's a chance for crypto. When traditional remittances also start using stablecoins, you'll see what self-subversion really means.

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DAOdreamer

· 01-17 12:50

Western Union's old-timers are really panicking now; with stablecoins coming, they are directly crushing their outdated system. Traditional giants really need to get their act together, or they’ll be embarrassed by the revolution. This is truly a blow to their old ways; with such a huge cost difference, how can they survive? It feels like traditional remittance will eventually be finished, unless they also rewrite everything using encryption technology. Oh my, a market worth 900 billion, whoever wins this round will eat the future. I just want to see when Western Union will realize they are already out of date. I'm a bit looking forward to the final episode of this big battle; I wonder if there will be a merger blockbuster. Cryptography really allows old financial institutions to taste the bitterness of being phased out by the times. Stablecoins are truly the most practical trump card in the crypto field, no doubt.

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SatoshiNotNakamoto

· 01-17 12:49

Stablecoins are really amazing. If Western Union really joins in, it would be like slapping themselves in the face.

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EyeOfTheTokenStorm

· 01-17 12:43

Stablecoins are indeed threatening traditional remittance giants this time, but don't overestimate the fighting power on the crypto side... infrastructure is way behind. Wait, Jessica, this perspective is interesting. If Western Union really uses stablecoins, then they are essentially killing their own fee model... The 900 billion market is a huge cake for whoever takes it. In the short term, traditional methods are still stable, but once the technology becomes widespread, there's no turning back, and that's the most terrifying part.

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ForkItAll

· 01-17 12:32

I don't know if the traditional giants are panicking, but if stablecoins really take off, Western Union will have to figure out how to survive.

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SolidityJester

· 01-17 12:21

Western Union and MoneyGram are gone? This wave of stablecoins might really be coming. --- If traditional players also start to play with stablecoins... isn't that shooting themselves in the foot? Haha. --- A market worth 900 billion. No wonder everyone can't sit still. --- The question is about the regulatory framework... can crypto handle it? --- I just want to know if the cost of stablecoins is really that low. It still depends on which chain you use. --- If Western Union really collapses this time, we should celebrate for three days. --- Both sides are competing against themselves... I like this storyline. Watching the show. --- They have confidence in the short term, but what about the long term? Will we still be saying this five years from now? --- Stablecoins are indeed flexible, but what about overseas remittances for the elderly? Still better to use Western Union. --- The Genius Act stirring such a big market in just half a year... Honestly, it's a bit beyond expectations.

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