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Wall Street Explores Joint Stablecoin as U.S. Regulatory Framework Takes Shape
Wall Street Explores Joint Stablecoin as U.S. Regulatory Framework Takes Shape
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Major U.S. financial institutions—including JPMorgan, Bank of America, Citigroup, and Wells Fargo—are in preliminary discussions to develop a shared stablecoin. Early Warning Services (parent company of Zelle) and The Clearing House are also participating. The initiative remains fluid, with final structure contingent on regulatory clarity and commercial viability.
The talks coincide with Senate progress on the GENIUS Act, legislation designed to establish stablecoin oversight and anti-money laundering safeguards. crypto policy expert David Sacks predicts bipartisan approval, though the bill faces opposition from some Democrats.
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