🇺🇸 Wall Street Strikes Back: U.S. Banking Giants Collaborate to Explore a Joint Stablecoin

💵Major U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are in early discussions to potentially create a shared U.S. dollar-backed stablecoin.

💰The initiative aims to enhance competitiveness in the rapidly evolving digital finance landscape by leveraging blockchain technology for faster, more efficient transactions. This exploratory move coincides with the U.S. Senate’s recent progress on the GENIUS Act, which seeks to establish a regulatory framework for stablecoin issuance, potentially providing legal clarity for such projects.