U.S. Banks in Preliminary Talks for a Stablecoin Joint Venture

JPMorgan, Bank of America, Citigroup, and other major U.S. banks are in early discussions to form a possible consortium to launch a stablecoin.

The leading banking institutions in the United States are exploring a joint venture to launch a stablecoin as the country accelerates its regulations on cryptocurrencies, the Wall Street Journal reported on Thursday.

The discussion of a potential stablecoin joint project involves joint ventures of JPMorgan, Bank of America, CitiGroup, Wells Fargo, and other major commercial banks.

Among these companies are the real-time payments network The Clearing House and Early Warning Services LLC, the fintech company behind the peer-to-peer payment system Zelle.

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