Global Banks Team Up to Launch Blockchain-Based Stablecoins for Cross-Border Payments

A consortium of major global banks is preparing to launch blockchain-based stablecoins pegged to key world currencies like the US dollar, euro, yen, and pound. This move marks a significant shift in traditional finance as they aim to modernize cross-border payments using this technology. These bank-backed stablecoins are designed to offer transparency, compliance with regulatory requirements, and enhance financial interoperability.