Major U.S. Banks Plan Joint Stablecoin Initiative

Four major U.S. banks—JPMorgan, Bank of America, Citi, and Wells Fargo—are reportedly considering a joint stablecoin project aimed at modernizing domestic payment infrastructures. Collaborating with traditional clearing operators such as The Clearing House and Zelle, the initiative could introduce a regulated stablecoin framework, potentially reshaping how fiat and crypto interoperate within the U.S. financial sector.