Some of the largest American banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring potential partnerships to issue a shared stablecoin.
The Wall Street Journal reported on Thursday that if the initiative proceeds, it would mark a significant step for traditional financial institutions into the digital currency space, where cryptocurrency-based firms have so far led the way.
Consortium discussions have reportedly involved entities such as Early Warning Services, the company behind Zelle, and the Clearing House, which operates a real-time payment system used by many large banks.
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