Major US Banks Eye Joint Stablecoin Venture as Competition Intensifies

US banks are increasingly eyeing the potential of a joint stablecoin to challenge the growing dominance of cryptocurrencies. According to the Wall Street Journal, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and others are in preliminary discussions for such a venture, citing unnamed sources familiar with these deliberations. These talks involve major bank-owned payment providers like Zelle operator Early Warning Services and the Clearing House. ]