A recent study by the International Monetary Fund (IMF) suggests that stablecoins could significantly disrupt the payments industry, potentially impacting the market by $300 billion. The study, authored by Alexander Copestake, Cage Englander, Maria Soledad Martinez Peria, and Germán Villegas-Bauer, examines the effects of stablecoin adoption on publicly listed payment companies. The research focuses on the U.S. Senate Bill 1582, known as the GENIUS Act, which establishes a federal regulatory framework for stablecoins. The study analyzed stock price movements of 35 U.S.-listed payment companies around the House of Representatives' vote on July 17, 2025. Results showed a 1.3 percentage point decline in market capitalization, equating to a $21.5 billion loss, with an estimated total impact of $300 billion when accounting for market anticipation. The study highlights that cross-border payment companies are most affected, experiencing a 27% market value drop, while network platforms like Visa and PayPal showed resilience due to strong network effects. Companies already involved in crypto assets also faced less disruption, indicating that early adoption of blockchain technology can mitigate competitive pressures from stablecoins.