Wall Street Expands Dollar's Territory with Blockchain..."Not Here to Devour Cryptocurrency"

▲ Wall Street, Dollar (USD), Blockchain/AI Generated Image

An analysis has emerged that Wall Street is not absorbing cryptocurrency but rather moving the dollar onto the blockchain.

In a video uploaded on September 13 (local time), the cryptocurrency-specialized YouTube channel Coin Bureau analyzed that traditional financial institutions are directly engaging in the construction of stablecoin and blockchain infrastructure. It cited examples of the New York Stock Exchange's parent company, BlackRock, Visa, and MasterCard participating as validators in blockchains built by stablecoin issuers.

Behind this lies the structural inefficiency of the international dollar payment network. International remittances pass through various correspondent banks, with each bank following separate regulatory procedures. Business hours and bank holidays also have an impact. It explained that a transfer made on Friday afternoon could be stalled until Monday or Tuesday. Coin Bureau pointed out that while the financial sector has long recognized the problem, there was a lack of alternative systems that regulators would permit.

The stablecoin regulatory law GENIUS was cited as a factor that ignited the transition competition. This law was enacted in July 2025 and stipulates that only authorized operators can issue stablecoins. Reserve assets must be fully backed by cash or short-term U.S. Treasury bonds. The U.S. Office of the Comptroller of the Currency (OCC) aims to finalize the rules by November 2026, and the law's full effect is set for January 2027. A separate U.S. cryptocurrency market structure bill is also undergoing Senate procedures.

The movements of large financial institutions have also accelerated. Circle revealed 11 initial validators for Arc, with BlackRock, Intercontinental Exchange (ICE), and the Depository Trust & Clearing Corporation (DTCC) among those listed. In early September 2026, 21 banks, including Goldman Sachs, Citi, and Bank of America, announced a joint plan to launch a regulated dollar stablecoin. Over 140 companies, including Stripe, Visa, MasterCard, and Coinbase, are participating in the OpenUSD infrastructure.

Coin Bureau identified the ultimate beneficiaries as the U.S. dollar and Treasury bonds. Tether's U.S. Treasury exposure for Q1 2026 was presented as $141 billion. The video explained that this amount ranks as approximately the 17th largest holder of U.S. Treasury bonds globally. U.S. Treasury Secretary Scott Bessent predicted that the stablecoin market could grow tenfold by 2030, based on the stablecoin regulatory law GENIUS. Coin Bureau emphasized the trend of blockchain establishing itself as a new global distribution network for the dollar, from the perspective that “cryptocurrency created the system, but Washington still holds the currency.”

[Article Summary]

-Coin Bureau analyzed that Wall Street is moving the dollar into blockchain infrastructure instead of absorbing cryptocurrency.

-21 banks and over 140 companies are participating in the construction of regulated stablecoins and related infrastructure.

-The video suggested that the expansion of stablecoins could increase demand for U.S. Treasury bonds and strengthen the dollar's global influence.

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