Chainlink CEO emphasized the need for proof-of-reserves and cross-chain connectivity for stablecoin function as the GENIUS Act reaches the final stage.
The US stablecoin market is undergoing a major transition as the GENIUS Act is likely to get approval soon. Chainlink CEO Sergey Nazarov stated that his blockchain platform is all set to cater to the demands for proof-of-reserves and cross-chain connectivity.
In his detailed post on the X platform, Nazarov stated that the impending US stablecoin regulations could lead to massive adoption in the global market. He believes that these stablecoins will require proof of reserves and cross-chain connectivity to function effectively within the expanding digital asset economy and tokenized financial systems.
Stablecoin regulation in the US will kick off a wave of new stablecoins in the US and all over the world. They will all need proof of reserves and cross-chain connectivity to be used as a source of payment for the growing digital asset economy and tokenized funds.
Chainlink is…
— Sergey Nazarov (@SergeyNazarov) June 17, 2025
Chainlink Presents Unique Capabilities With Blockchain Compliance and Connectivity
Sergey Nazarov stated that Chainlink LINK $23.59 24h volatility: 0.3% Market cap: $15.98 B Vol. 24h: $664.75 M provides a one-stop solution in offering both proof of reserves and cross-chain connectivity in one integrated system. He further highlighted that there’s a growing demand for on-chain activity and compliance features to enable frictionless stablecoin payments within the regulatory purview.
Chainlink aims to combine these features, becoming the sole platform offering proof of reserves, cross-chain connectivity, and on-chain compliance in a unified framework.
Sergey Nazarov also explained that with blockchain transactions becoming complex with the inclusion of data, connectivity, and compliance needs, Chainlink’s infrastructure will be able to tackle all these demands through a single transactional standard.
He stated that by leveraging Chainlink’s Configuration Runtime Environment (CRE), users can configure, deploy, and manage proof of reserves, cross-chain connectivity, and compliance requirements seamlessly using one piece of workflow code.
GENIUS Stablecoin Act to Get Senate Approval Today
After extensive discussions, cloture votes, and revisions, the GENIUS Stablecoin Act is on the brink of a decisive vote in the Senate, marking a significant step toward its potential enactment. FOX Business journalist Eleanor Terrett noted in a recent X post that the bill is scheduled for a final Senate vote on June 17, 2025.
🚨JUST IN: The Senate will vote on the final passage of the GENIUS Act on Tuesday, time TBD. pic.twitter.com/D9E8wiv4CA
— Eleanor Terrett (@EleanorTerrett) June 12, 2025
Last week, the Senate voted to invoke cloture, allowing the bill to proceed to its final debate. Anticipation is mounting that the GENIUS Act will secure Senate approval in today’s session. In anticipation of the approval, Amazon and Walmart are already plotting the move by considering issuing USD-pegged stablecoins.
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