Snail Games (SNAL), a publicly-traded video game studio, said on Tuesday that it is mulling the development of its own U.S. dollar stablecoin.

The company is evaluating the technical, legal, and financial hurdles to issuing a proprietary stablecoin, according to a press release. To support the effort, Snail retained George Cao, founder of the crypto exchange AscendEX, as an external consultant. The company has also engaged a crypto-focused law firm to help navigate compliance challenges.

No firm timeline has been set, and the initiative remains exploratory.

The stock jumped as much as 20% on the news before shedding some of the gains, closing the session 8% higher.

«This stablecoin exploration is a natural evolution of our innovation-led strategy and will support a broader effort to evaluate how blockchain-based technologies could be aligned with the company’s long-term goal to be at the forefront of digital transformation in the entertainment space,” co-CEO Hai Shi said in a statement.

Stablecoins are cryptocurrencies pegged to fiat currencies like the U.S. dollar, and are increasingly popular to transfer value quickly and with fewer intermediaries through blockchain rails. With impending U.S. regulation of the sector, major banks and large retailers like Walmart and Amazon are said to explore issuing stablecoins.

For a company like Snail, integrating stablecoins could open doors to blockchain-based game economies, player-driven marketplaces or cross-border monetization, without relying on traditional payment rails.

Read more: ‘Crypto Week’ Hits a Roadblock as House Cancels Makeup Vote for Crypto Bills

Brandon Lutnick, chairman of Wall Street investment bank Cantor Fitzgerald, is in late-stage talks with early bitcoin proponent and Blockstream CEO Adam Back for a bitcoin treasury deal that could be worth over $3 billion, the Financial Times reported on Wednesday.

According to the report, Lutnick’s blank cheque company Cantor Equity Partners 1 would acquire 30,000 BTC (nearly $3.5 billion at current prices) from Back. In return, Back would receive equity in the vehicle, which would be renamed BSTR Holdings. The firm also seeks to raise $800 million outside capital, the report said.

A final deal could be announced within days, though terms are still being negotiated, per the report.

The news follows Cantor Fitzgerald’s previous bitcoin investment vehicle Twenty One Capital, which was backed by SoftBank, Tether and Bitfinex and headed by Jack Mallers, the CEO of bitcoin-focused payments app Strike. That’s been part of a recent trend of turning publicly-traded companies into crypto treasury strategy plays, raising money from investors to acquires digital assets like BTC, Ethereum’s ether ETH or Solana’s SOL SOL.

Back has personally backed several bitcoin-focused companies this year, including Sweden’s H100 Group and France’s Blockchain Group.

Read more: Bitcoin Treasury Firms Expand War Chests as Global Adoption Rises

As it sped into Crypto Week on Tuesday, the U.S. House’s process toward passing digital assets bills ground to a sudden halt over a procedural vote as members of the House Freedom Caucus objected to the way some of the legislation has developed under Senate dominance.

The misfire on the procedural vote quickly slammed the crypto markets over uncertainty about the good news expected this week as the House has moved toward passage of two of the industry’s top priorities. The legislation still has strong, bipartisan support, suggesting the procedural mishap may be overcome as a further vote was scheduled for later Tuesday afternoon. More than a dozen Republicans joined Democrats in voting against the motion.

Two people familiar with the matter told CoinDesk another vote has been aimed for 5:00 p.m. ET, meaning this disruption could be resolved without delaying the more important votes currently expected on Wednesday and Thursday.

U.S. President Donald Trump urged Republicans to vote in favor of the rule earlier Tuesday in a post on Truth Social, saying passing GENIUS would help keep the U.S. ahead of other countries in crypto development.

Bitcoin (BTC) and ether (ETH) each knee-jerked lower by about 0.5% on the news, but both have recovered most of those declines. High-flying stablecoin issuer Circle (CRCL) has moved to its session low, down 5.3% on the day. The stock remains higher by roughly six-fold since its IPO last month.

Procedural disruptions can be the norm in the legislative process. As the GENIUS Act headed toward passage in the Senate, a group of Democrats slammed the breaks to object to certain provisions and force more discussion. It’s uncertain whether a similar delay could be forced by unhappy Republicans on this week’s bills.