Multicoin Exec Says GENIUS Act Will End Banks' ‘Rip-Off' of Retail Depositors with Low Rates

**Multicoin Capital Executive Predicts Banking Revolution Through GENIUS Act and Stablecoin Competition**

Multicoin Capital managing partner Tushar Jain forecasts a seismic shift in retail banking as the proposed GENIUS Act could unleash fierce competition from tech giants Meta, Google, and Apple. These technology powerhouses are positioned to disrupt traditional banking by launching stablecoin products offering superior yields compared to conventional savings accounts.

The cryptocurrency industry executive believes this legislative framework will expose how traditional banks have been "ripping off" retail depositors with historically low interest rates. By leveraging their massive distribution networks and advanced user interfaces, tech companies could deliver DeFi-powered banking alternatives that significantly outperform legacy financial institutions.

This potential banking revolution represents a crucial intersection of cryptocurrency regulation, blockchain technology, and traditional finance. The GENIUS Act could democratize access to higher-yield financial products through stablecoins, challenging banks' monopoly on retail deposits. As digital assets continue gaining mainstream adoption, this regulatory shift might accelerate the transition toward decentralized finance solutions, fundamentally reshaping how consumers interact with banking services and cryptocurrency products in the evolving fintech landscape.