$BTC Banco Santander SA is considering expanding cryptocurrency services to retail customers and may launch stablecoin products. The plan is still in its early stages and may include fiat tokens pegged to the US dollar and the euro.

Large banking institutions, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are also considering launching stablecoins, thanks to the proactive regulatory shift under President Donald Trump.

Stablecoin supporters believe this is a way to extend the dominance of the US dollar, accelerate the flow of capital in payment systems, provide services to the unbanked, and give small businesses access to global capital markets.