US Banking Giants JPMorgan, Bank of America, and Others Eye Joint Stablecoin Launch

According to the Wall Street Journal, major US financial institutions, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other commercial banks, are reportedly engaging in preliminary discussions to launch a stablecoin jointly.   This move comes as a strategic response to the growing competition these banks face from the cryptocurrency industry. Traditional Banks Dive Into Stablecoin Market The report revealed that the discussions involve companies co-owned by these banks, such as Early Warning Services and the Clearing House. However, these talks remain in the early stages source: https://beincrypto.com/american-banks-stablecoin-launch/