U.S. banks and payments firms are laying the groundwork for their own dollar-pegged crypto tokens after President Donald Trump in July signed the GENIUS Act, the country’s first law establishing federal rules for stablecoins. Bank of America and Fiserv are among the institutions exploring launches of proprietary coins, betting that instant settlement and lower-cost cross-border transfers will appeal to customers and corporate treasuries alike. The statute requires issuers to hold high-quality reserve assets and comply with anti-money-laundering and know-your-customer standards, handing banks an early compliance advantage. While the law opens the door to wider use of digital dollars, experts say most projects will take years to reach market because regulators—including the Office of the Comptroller of the Currency—must still spell out capital, liquidity and risk-management details. In a separate move underscoring Wall Street’s shift toward digital assets, Citigroup is considering offering custody, payment and conversion services for stablecoins and crypto exchange-traded funds, according to people familiar with its plans cited by Reuters. The $2.5 trillion bank is also studying instant stablecoin payments, a business now led by Coinbase, and would focus initially on safeguarding the reserves that back the tokens. Other companies are evaluating how to participate. Retail giants Walmart and Amazon have looked at customer-facing tokens, while some firms may instead integrate existing products such as Circle’s USDC. Technical choices—including whether to use public blockchains like Ethereum or private permissioned networks—remain unsettled, and the ultimate impact of the GENIUS Act will depend on forthcoming agency rules and market uptake.