Wall Street Giants Goldman Sachs, Bank of America, Citigroup Dive Into Stablecoin Development
Traditional finance heavyweights are finally catching the crypto wave—three of America's largest banks are reportedly exploring their own stablecoin launches.
The Institutional Shift
Goldman Sachs, Bank of America, and Citigroup—collectively managing trillions in assets—are quietly building what could become the most regulated stablecoins in existence. They're not just dipping toes anymore; they're diving headfirst into digital assets.
Why Banks Want Digital Dollars
These aren't your average crypto projects. We're talking about fully-backed digital currencies that could revolutionize cross-border payments, settlement times, and corporate treasury management. The move signals that traditional finance sees stablecoins as inevitable infrastructure rather than speculative toys.
Wall Street's Crypto Awakening
After years of dismissing digital assets as fringe technology, these institutions now recognize the efficiency gains—and potential revenue streams—that stablecoins offer. They're essentially creating digital versions of the dollars they already custody, because why let startups have all the fun?
The Regulatory Dance
Expect these stablecoins to be the most compliant financial instruments in crypto history. Every transaction tracked, every dollar accounted for—because nothing says innovation like adding more oversight to decentralized technology. Because if there's one thing Wall Street loves more than disruption, it's regulation.
Global banks are increasingly looking into stablecoins
Banks are increasingly looking into stablecoins. On September 25, nine major European banks, including ING, UniCredit, Danske Bank, and CaixaBank, made a similar announcement. The banks stated that they are looking into launching a joint stablecoin amid a positive regulatory shift.
The biggest catalyst for the entry of banks into the stablecoin space is the GENIUS Act, a piece of legislation that clarifies regulations in the U.S. What’s more, this legislation prompted regulators in other jurisdictions to act so they are not left behind.
Stablecoins are a rapidly growing business with major potential. In the second quarter of 2025, Circle reported a revenue of $634 million, a 50% year-over-year increase.
