Major U.S. Banks Eye Stablecoin Launches as Crypto Bills Advance

Wall Street giants are making a decisive pivot toward stablecoins, signaling a watershed moment for institutional crypto adoption. Bank of America, Citigroup, and JPMorgan Chase have all confirmed active development of proprietary stablecoin projects, despite lukewarm current demand from traditional clients.

The banking sector's MOVE mirrors the rapid adoption curve seen with Zelle and Venmo, suggesting mainstream payment rails may soon integrate blockchain-based settlement. JPMorgan's participation proves particularly notable given CEO Jamie Dimon's longstanding skepticism toward Bitcoin.

This institutional embrace comes as Washington prepares clearer regulatory frameworks, potentially accelerating integration between legacy finance and digital asset ecosystems. Market observers anticipate cascading effects for crypto wallets and payment processors as banking-grade stablecoins enter circulation.