Major U.S. banks consider creating joint stablecoin to counter cryptocurrency competition
Investing.com — Some of the largest banks in the United States, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup, and Wells Fargo (NYSE:WFC), are holding preliminary discussions about issuing a joint stablecoin, according to the Wall Street Journal on Friday.
This move is seen as an attempt to counter the growing competition from the cryptocurrency industry.
