Odaily Planet Daily News During the "Crypto Week" of the US Congress, JPMorgan Chase and Citigroup respectively stated that they were considering entering the stablecoin market. JPMorgan Chase CEO Jamie Dimon said that he would participate in the "JPMorgan Deposit Coin" and stablecoin-related businesses to explore its potential in the payment field. On the same day, Citi CEO Jane Fraser also said that it was studying the issuance of "Citi Stablecoin" and said that its tokenized deposit business was "very active."
In May of this year, the Wall Street Journal disclosed that JPMorgan Chase, Bank of America, Citi and Wells Fargo were planning to jointly issue stablecoins.
The current market value of stablecoins has reached US$258 billion, an increase of 58% over the same period in 2024. Large banks may reshape the US dollar stablecoin landscape and accelerate the encryption of the global payment system. (Cointelegraph)