ZA Online (06060) saw its stock price soar by 11.30% during the intraday trading session on Thursday, significantly outperforming earlier expectations. This dramatic surge comes in the wake of a groundbreaking development in the cryptocurrency sector, particularly affecting companies involved in stablecoin-related businesses.

The catalyst for this impressive rally appears to be the passing of a stablecoin bill with bipartisan support in the United States. This legislative milestone is being hailed as a turning point in the ongoing debate over cryptocurrency oversight and represents a significant breakthrough for a sector that has long operated in regulatory uncertainty. The bill, known as the GENIUS Act, still needs to clear the Republican-controlled House of Representatives before heading to the President for final approval.

Analysts are optimistic about the potential impact of this legislation on companies like ZA Online. The new regulatory framework is expected to bring greater legitimacy to the stablecoin sector, potentially unlocking fresh growth in the $256 billion market. Industry experts anticipate that once the bill becomes law, likely by the end of summer, stablecoins could evolve from being merely the money rail of crypto to becoming the money rail of the internet. This development could significantly boost revenues for digital asset infrastructure firms and drive increased adoption of stablecoins, creating a favorable environment for companies operating in this space.