JPMorgan’s Dimon and Citigroup’s Fraser consider stablecoins in Wall Street crypto pivot
JPMorgan Chase (JPM) CEO Jamie Dimon and Citigroup (C) CEO Jane Fraser both said Tuesday they are going to get involved in stablecoins, the latest evidence of how Wall Street is pivoting to embrace digital assets as federal lawmakers debate new legislation favorable to the crypto industry.
“We are looking at the issuance of a Citi stablecoin,” Fraser told analysts Tuesday. “We really welcome the administration’s willingness to allow banks to participate in the digital asset space more easily,” Fraser added.
The effort to push crypto legislation through Congress in a week dubbed “Crypto Week” by some in GOP hit a roadblock Tuesday as as 13 Republicans voting with Democrats blocked a procedural motion that would have…