Banks Are All In on Stablecoins—Here’s What They’re Saying and Why It Matters

Wall Street just got serious about digital dollars. In mid‑July, Congress passed the GENIUS Act, clearing the way for banks to issue dollar‑pegged tokens, and CEOs at JPMorgan, Citi, Goldman Sachs, Bank of America, and Morgan Stanley used their Q2 earnings calls to outline their next moves:

JPMorgan launched its own “JPMD” deposit token and will explore both bank‑backed coins and open stablecoins to stay competitive.

Citi is already live with “Citi Token Services” in four markets and intends to roll out a full‑blown Citi stablecoin for 24/7 cross‑border payments.

Goldman Sachs has mobilized internal teams to study stablecoin opportunities, seeing potential in faster funding and settlement.

Bank of America is cautiously building partnerships but waits for clearer client demand and legal guardrails.

Morgan Stanley is in observation mode, actively discussing use cases but has no public product yet.

This coordinated pivot shows that banks no longer view stablecoins as a threat—but as a critical piece of tomorrow’s payments infrastructure. As regulation and technology catch up, expect your next money transfer to look a lot more like crypto.

Source: Business Insider (Emmalyse Brownstein)

Credit: AP Images

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