The Federal Deposit Insurance Corporation (FDIC) has taken significant steps towards regulating stablecoins by approving a proposal for application procedures for banks wishing to issue these digital currencies under the GENIUS Act. This marks a crucial moment in the evolution of the banking sector as it prepares for the potential issuance of payment stablecoins. The FDIC has outlined a framework for banks, including application processes, evaluating issuer safety, and establishing rules for subsidiaries handling stablecoin transactions. As regulatory clarity emerges, major institutions like Bank of America predict a multi-year transition towards blockchain banking, indicating a shift towards on-chain operations by U.S. banks. The introduction of stablecoin regulations signifies not only a new competitive landscape for digital currencies but also highlights the growing importance of stablecoins in the financial ecosystem.