Stablecoin Market Dynamics Post-GENIUS with Matt Homer of The Venture Dept.

“Now, if you're a bank, you have to have a stablecoin strategy. If you're not going to participate, you have to have a reason for why you're not.”

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Matt Homer is the Founder and General Partner of The Venture Dept., a venture capital firm investing at the intersection of fintech, digital assets, and regulation, with a particular focus on stablecoins and stablecoin infrastructure.

Before founding The Venture Dept., Matt was a regulator at the FDIC and then the New York Department of Financial Services (NYDFS), where he helped design and oversee some of the earliest digital asset frameworks in the U.S. He later joined Nyca Partners, a leading fintech venture firm, where he developed its digital asset investment strategy.

Matt also serves on the boards of Gemini and Standard Custody (acquired by Ripple), bringing a unique blend of regulatory insight, fintech experience, and early-stage investing to one of the most rapidly evolving sectors in finance.

Please enjoy the following insights from Matt Homer.

Stablecoins: From “Legal Enough” to Federally Sanctioned

Federal rulemaking (the GENIUS Act) turned fragmented state oversight into a national baseline. Banks and large corporates must now form stablecoin strategies, with no strategy tantamount to an anti-innovation posture.

🎬 Watch: GENIUS effectively forced everyone to develop a stablecoin strategy

https://youtube.com/shorts/EQ-xoTgAXkg?feature=share

Two Paths to Issuance: State vs. Federal (with a $10B Threshold)

Sub-$10B issuers can choose state or federal; at $10B+ a federal charter is mandatory. Expect regulators to compete on speed and service — not on baseline standards.

🎬 Watch: Potential for regulator competition under GENIUS?

https://youtube.com/shorts/zKHb84zAisk?feature=share

Institutional Watersheds: PayPal, BlackRock, Stripe/Bridge and Federal Regulation

Institutional momentum — not retail hype — set the pace: PayPal onboarded the masses, BlackRock pulled TradFi on-chain, Stripe’s Bridge deal woke up fintech, and GENIUS locked in the regime.

🎬 Watch: PayPal unlocked crypto for 100m consumers overnight

https://youtube.com/shorts/Xk98MLq2aQY?feature=share

Law → Rules → Market: Why Rulemaking Is the Real Game

GENIUS matters most in translation: ANPR → NPR → Proposed → Final. Engage the process to shape the definitions that become market structure.

🎬 Watch: How the regulatory sausage is made

https://youtube.com/shorts/K4nnxWXtdBw?feature=share

Enterprise Cash, Programmable: What Treasurers Actually Need

Price isn’t always the deciding factor in payments. Instant settlement and programmability are valuable. To get treasurers on-chain, we must solve for privacy, yield, and near-zero failure tolerance.

🎬 Watch: The magic of stablecoin payments in the US

https://youtube.com/shorts/RXVkGxKC8xw?feature=share

🎬 Watch the Full Episode

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