Bank of America says traditional banks are building stablecoins

BOA has revealed that several major banks are getting ready to launch their own blockchain based stablecoins.

Think JPM Coin, but from more banks. These stablecoins will be regulated, blockchain compatible, and designed for faster cross-border payments.

We’re entering a new phase where TradFi adopts DeFi tools and this could reshape everything from trading to remittances.

While the likes of $USDT and $USDC dominate now, competition from trusted institutions could raise the bar.

P.S. I’m already seeing signals of these shifts reflected on BingX, Binance, Bitget & co

#Stablecoin #CryptoNews