Major US Banks Eye Joint Stablecoin Project Amid Regulatory Push for Digital Assets

Several major U.S. banks are exploring a joint stablecoin initiative, driven by the increasing urgency to establish regulatory frameworks for digital assets in Washington. Sources revealed that these discussions involve giants like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, with companies co-owned by these institutions—such as Early Warning Services (operator of Zelle) and The Clearing House—also reportedly involved. While still in an early stage, the plan could evolve significantly as regulatory clarity emerges.