JPMorgan and allies are about to release a joint stablecoin – Major reaction to the rise of crypto
Major banks like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are entering the negotiation phase to issue a joint stablecoin, according to Foresight News. This initiative shows that the traditional financial industry is beginning to undergo a significant transformation in response to the wave of cryptocurrency. The collaboration with Early Warning Services – the operator of the Zelle system – along with Clearing House underscores the scale and serious determination of the banks. This interbank stablecoin could usher in an era of real-time payments, reducing costs, increasing speed, and directly competing with existing crypto solutions. A clear signal: crypto is changing the global financial game.