JPMorgan, BofA, and Wells Fargo Plan Stablecoin Launch Amid Crypto Disruption

America’s largest financial institutions are making a strategic pivot toward digital assets. JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are reportedly collaborating on a joint stablecoin initiative, according to a Wall Street Journal exclusive. This MOVE signals traditional finance’s growing acknowledgment of blockchain’s disruptive potential.

The banking consortium’s exploration comes as stablecoins—cryptocurrencies pegged to stable assets like the US dollar—have become critical infrastructure for crypto markets. Tether’s $110 billion USDT and Circle’s $33 billion USDC currently dominate this space. A bank-backed alternative could reshape liquidity flows across both traditional and decentralized finance.

Payments networks co-owned by JPMorgan Chase appear central to the discussions. The involvement of major custodial banks suggests infrastructure development for institutional-grade digital asset settlement—a missing piece in today’s crypto markets.