Some US banks explore venturing into crypto with joint stablecoin: Report
Some of the biggest U.S. banks are exploring whether to team up to issue a joint stablecoin, The Wall Street Journal reported on Thursday.
The conversations have so far involved companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, the report said, citing people familiar with the matter.
However, the newspaper said that the bank consortium discussions are in early, conceptual stages and could change.
Reuters could not immediately confirm the report. The banks did not respond to Reuters’ requests for comment late on Thursday.
Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually pegged to a fiat currency such as U.S. dollar, are commonly used by…
