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Some US banks explore venturing into crypto with joint stablecoin, WSJ reports
- Some major U.S. Banks are considering collaborating to create a joint stablecoin, as reported by The Wall Street Journal.
- The banks involved in discussions include JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, according to unnamed sources.
- Stablecoins are types of cryptocurrency that maintain a constant value, usually pegged to the U.S. Dollar.
- The proposed stablecoin aims to help banks improve operations, particularly in international remittances that take days through traditional systems.
57 Articles
57 Articles
Big Wall Street Banks Explore Joint Stablecoin Initiative
Several of the largest U.S. banks — including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo — are in early-stage discussions to launch a joint stablecoin, according to a report by the Wall Street Journal. The effort is seen as a strategic response to growing competition from the crypto sector, particularly as stablecoins gain traction due to their efficiency in digital payments and cross-border transactions. The talks involve entit…
JPMorgan Chase, Bank of America and others might launch their own crypto
Since cryptocurrency’s inception, a major selling point was that it sidestepped the banking system. Now that President Donald Trump appears to be profiting off hismemecoin, the major banks are considering launching their own —stablecoin, that is. Read more...
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Major U.S. Banks, Like JPM, Citi, BoFA, and Others, Mull Joint Stablecoin Launch: WSJ
Major U.S. banks are weighing launching a joint stablecoin to fend off crypto competition.Financial heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), have held discussion on the subject, the Wall Street Journal reported, citing people familiar with the matter. The talks are still in early stages and could change, the report added. Within the consortium are also payments ventures owned by these b…
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