Dan Silverman, CEO and co-founder of Balcony Technology Group, applauded the signing of the GENIUS ACT, which will establish long-awaited federal framework for regulating stablecoins, digital assets pegged to the U.S. dollar.
The act, signed into law by President Donald Trump Friday, is seen as a milestone for the digital asset industry as it is the first major national cryptocurrency legislation in the country.
GENIUS is an acronym for Guiding and Establishing National Innovation for U.S. Stablecoins. The law is aimed at bringing more clarity and stability to the market, encouraging both traditional and emerging financial institutions to participate.
Silverman agrees.
“Pegging a token one-for-one to the U.S. dollar removes the price volatility of crypto while giving us a native digital settlement asset,” he said. “That eliminates the friction of moving physical dollars (think wire-cutoff times and fee stacks), yields instant finality on a public distributed ledger, and creates an auditable record that cannot be altered.”
Hoboken-based Balcony Technology Group was among the first graduates of NJFAST, the New Jersey Fintech Accelerator at Stevens Institute of Technology.
Balcony specializes in building blockchain-based infrastructure for the real estate and government sectors. It focuses on digitizing and tokenizing property records, streamlining ownership transfers, and improving data management for both real estate and government entities.
Balcony aims to create a more secure, transparent, and efficient system for managing real estate data using blockchain technology.
Silverman said Balcony will benefit by the law — and that it won’t be the only one.
“At Balcony we expect real-estate closings and even property-tax payments to commonly settle in stablecoins within five years,” he said. “Walmart and Amazon exploring their own dollar-backed coins shows how quickly retail innovation is converging with pending regulation.”
Among the aims of the GENIUS Act:
Creating a clear regulatory framework for payment stablecoins: These are digital assets designed to maintain a stable value relative to a fiat currency, such as the U.S. dollar.
Enhancing consumer and investor confidence: It requires stablecoin issuers to maintain 100% reserve backing with liquid assets like U.S. dollars or short-term treasuries.
