Wall Street Banks Eye Joint Stablecoin Venture to Counter Crypto Threat
For years, traditional banking giants largely viewed the cryptocurrency world with skepticism, if not outright disdain. But as the digital asset landscape matures and political winds shift, a pivot is underway: the US’ largest banks are now reportedly huddling to explore issuing their own joint stablecoin, a move that could signal a strategic surrender to, or perhaps an embrace of, crypto’s momentum.
According to a report yesterday by the Wall Street Journal, a consortium of financial heavyweights, including JP Morgan Chase, Bank of America, Citigroup, and Wells Fargo, are in early, conceptual discussions about pooling resources to launch a shared digital dollar. These conversations are said to involve entities they co-own, such…
