JPMorgan Chase, Bank of America, others might launch their own crypto
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Since cryptocurrency’s inception a major selling point was that it sidestepped the banking system. Now that President Donald Trump appears to be profiting off his own memecoin, the major banks are considering launching their own —stablecoin, that is.
According to the Wall Street Journal, JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), and other banking giants have been discussing a stablecoin crypto collaboration.
What is a stablecoin? They’re a type of crypto asset backed by cash, gold, bonds, or other regulated assets, pegged to fiat value, and are used by investors entering the market…
