Wall Street Banks Form Stablecoin Project to Challenge Tether Dominance

Major US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are teaming up to launch a new stablecoin project aimed at challenging the dominance of Tether in both the U.S. and global crypto markets. This ambitious initiative showcases the growing convergence between traditional finance and cryptocurrency, potentially reshaping the landscape for digital currency.