Financial companies from bank of America to Fiserv are preparing to launch thier own dollar-backed crypto tokens now that a new U.S. law has established the first-ever rules for stablecoins, but experts warn the path forward could be anything but simple.

U.S. President Donald Trump on July 18 signed the GENIUS Act into law,setting federal rules and guidelines for cryptocurrency tokens pegged to the U.S.dollar known as stablecoins. This U.S. law,the first designed to facilitate crypto usage,could pave the way for the digital assets to become an everyday way to make payments and move money,experts saeid.

The use of stablecoins, designed to maintain a constant value, usually a 1:1 U.S. dollar peg, has exploded in recent years, notably among crypto traders moving funds to and from other tokens, such as bitcoin and ether.

Now, a slate of companies are entertaining their own stablecoin strategies to capitalize on the promise of instant payments and settlement that stablecoins offer. Payments on traditional banking rails can take several days to arrive, or take even longer across international borders.

Among the companies considering stablecoins are Walmart and Amazon, the Wall Street Journal reported in June. Walmart and Amazon did not promptly respond to requests for comment.

However, the new law will not immediately open the floodgates, experts said. The newfound opportunity to dabble in stablecoins can lead to numerous tricky considerations for firms, both strategic and technical.

Companies have to embark on a lengthy process to deploy their own stablecoins, or decide whether it makes more sense to integrate existing stablecoins, like issuer Circle’s USDC, into their business.

Companies first have to decide the purpose of their stablecoins. Such as, a retail platform could make a stablecoin available to customers to buy goods, which could appeal to crypto-savvy users. Some companies could use them internally for cross-border payments, given that stablecoins can enable near-instant payments, often with lower fees.

How a company plans to use a stablecoin could affect whether it creates a stablecoin or works with a partner.

“The intended use is going to matter a lot,” said Stephen Aschettino, a partner at Steptoe. “Is this something really designed to drive