{"content":"💣 Wall Street’s Quiet Invasion — US Banks Gear Up for Joint Stablecoin Launch According to the Wall Street Journal, major US financial institutions are in early negotiations to create a jointly issued stablecoin. Traditional banks may change how they handle digital assets to match institutional and regulatory interest in blockchain-based financing. According to Wall Street Journal sources, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other major institutions are involved. The idea is currently exploratory, with no formal confirmation or agreement. However, The Clearing House, a real-time payments consortium, and Early Warning Services, the fintech startup behind Zelle, are apparently discussing a stablecoin concept. The proposed currency would likely be meant for usage by participating banks, although one version would enable other institutions to access the crypto stablecoin. The US regulatory drive to clarify stablecoin classification and usage has piqued the financial sector's attention. The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) was just approved by the Senate to formalize stablecoin issuance and governance. The law would require stablecoins to be completely backed by US dollars or similar liquid assets and frequent audits for significant market cap issuers. The GENIUS Act might be the first major stablecoin law in the US. The measure also addresses cross-border issuance and operational transparency The legislative impetus looks to be opening opportunities for conventional financial firms, who have generally avoided crypto asset innovation owing to uncertain or uneven laws. Bank-issued stablecoins are not new. JPMorgan, one of the businesses listed in the study, currently runs JPM Coin for institutional customers, but a multi-bank, public-facing token venture would be more ambitious. Smaller regional and community banks are also considering creating a consortium with similar ambitions, suggesting broad interest in blockchain settlement systems. #TrumpTariffs #GENIUSAct $BTC ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025052025/05/24/e4e35813ebab42d5a6fede364a3d5b2b.png"],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}