This move would be the clearest step so far from the traditional banking system into the crypto space, in an attempt to regain lost ground after years of regulatory scrutiny and fintech advancement.
Despite the doubts, everything indicates that stablecoins will be a key convergence point between both financial worlds. The only unknown is who will dominate that space in the long term.
Large banks are approaching the crypto world with a joint currency.
The major U.S. banks, led by JPMorgan (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), are discussing the possibility of launching a joint stablecoin, according to close sources.
The project is still in the conceptual phase, but it already involves Early Warning Services —operator of Zelle— and The Clearing House, key entities in the traditional payment system.
The goal: to anticipate the expansion of stablecoins as a payment mechanism, especially if technology companies or large retailers begin to use them massively under Trump’s presidency.
Banks fear that these digital currencies will capture an increasing share of transactions and deposits, affecting their role in the economy if they fail to adapt quickly to the new scenario. This move would be the clearest step so far from the traditional banking system into the crypto space, in an attempt to regain lost ground after years of regulatory scrutiny and fintech advancement.
Despite the doubts, everything indicates that stablecoins will be a key convergence point between both financial worlds. The only unknown is who will dominate that space in the long term.$BTC $ETH #SaylorBTCPurchase #SaylorBTCPurchase 