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BTCC / BTCC Square / Global Cryptocurrency /
US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition

US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition

Author:
Global Cryptocurrency
Published:
2025-05-23 13:34:02
11
2

Major U.S. banks are in preliminary discussions to launch a consortium-backed stablecoin, signaling Wall Street’s strategic response to the growing dominance of cryptocurrency payment solutions. JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are among the institutions exploring the initiative through entities like Early Warning Services and The Clearing House.

The project remains conceptual, contingent on evolving regulatory frameworks for stablecoins. The MOVE underscores traditional finance’s attempt to reclaim territory from decentralized alternatives, though no timeline or technical specifications have been disclosed.

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