Bitcoin treasury company Genius Group plans to issue a stablecoin and provide digital asset services

According to ChainCatcher, Genius Group, a bitcoin treasury company currently listed on NYSE American under the New York Stock Exchange, has disclosed plans to issue a stablecoin and provide digital asset services under the "GENIUS Act." The company will apply to become a non-bank licensed payment stablecoin issuer and digital asset service provider either through its holding company or its wholly owned subsidiary, and is also exploring expanding the functionality of the Genius Wallet beyond GEM points, including supporting cross-border stablecoin transactions.

It is reported that Genius Group currently holds 200 bitcoins, with a market value of approximately $23 million based on the current price of $113,000.