Deutsche Bank Strategist: GENIUS Act could strengthen dollar dominance

Marion Laboure, a strategist at Germany's largest commercial bank Deutsche Bank, has said that the U.S. Senate-approved stablecoin bill, the GENIUS Act, could strengthen the dollar's global dominance. She claimed that the legislation could attract overseas liquidity and accelerate the use of digital dollars worldwide. On that basis, Laboure believes that the use of the dollar can be expanded in developing countries without central bank digital currencies (CBDCs) or traditional finance. The GENIUS Act passed the Senate's final vote yesterday.