Major US banks discuss idea of joint stablecoin, supporting role of dollar in crypto world
JPMorgan, BofA, Citigroup, Wells Fargo and other major banks are in early talks about a joint stablecoin to bolster the dollar’s role in crypto.
May 23, 2568 at 08.57:XNUMX a.m. Reuters reported that The Wall Street Journal reported on Thursday that Several large US banks are discussing the possibility of jointly issuing a “stablecoin”, or a common cryptocurrency with a fixed value.
The source said the report said talks are currently being attended by companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other major commercial banks.
however The Wall Street Journal specify that The discussions between the banking groups are still at a conceptual stage and are subject to change in the future.
Stablecoins are a type of cryptocurrency designed to have a stable value, often pegged to a state currency, such as the US dollar, and are used by crypto traders to quickly transfer money between different tokens.
One of the approaches discussed by the banking group is to develop a model that allows other banks to use the stablecoin as well, not just banks that are co-owners of the system. “Clearing House” “Early Warning Services”
It has also been reported that some regional and community banks are considering the possibility of forming a stablecoin consortium separate from the larger banks.
side US President Donald Trump has expressed his support for crypto. By stating that He will be “Crypto President” and promote its wider use in the United States, arguing that crypto technology could help improve the banking system and boost the dollar's power on the global stage.
refer : reuters.com
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