US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition

It’s safe to say that the surge in stablecoin adoption has not gone unnoticed by the banks. Several of the largest banks in the US are reportedly in early talks to launch a joint stablecoin, aiming to challenge the popularity of crypto and digital payment solutions. “The conversations have so far involved companies co-owned by.. The post US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition appeared first on 99Bitcoins.

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May 23, 2025 - 16:02

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It’s safe to say that the surge in stablecoin adoption has not gone unnoticed by the banks. Several of the largest banks in the US are reportedly in early talks to launch a joint stablecoin, aiming to challenge the popularity of crypto and digital payment solutions.

“The conversations have so far involved companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, according to people familiar with the matter,” confirmed the Wall Street Journal in a 22 May 2025 report.

The project is in its conceptual phase and hinges on evolving regulatory frameworks, particularly the new stablecoin legislation. The consortium would involve Early Warning Services and The Clearing House, both pivotal players in the US payments infrastructure.