{"id":28295,"date":"2025-05-23T13:16:54","date_gmt":"2025-05-23T13:16:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28295"},"modified":"2025-05-23T13:16:54","modified_gmt":"2025-05-23T13:16:54","slug":"us-banking-giants-explore-joint-stablecoin-to-counter-crypto-competition","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28295","title":{"rendered":"US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">It\u2019s safe to say that the surge in stablecoin adoption has not gone unnoticed by the banks. Several of the largest banks in the US are reportedly in early talks to launch a joint stablecoin, aiming to challenge the popularity of crypto and digital payment solutions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe conversations have so far involved companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, according to people familiar with the matter,\u201d confirmed the Wall Street Journal in a <\/span><a href=\"https:\/\/www.wsj.com\/finance\/banking\/crypto-stablecoin-big-banks-a841059e\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">22 May 2025 report.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">The project is in its conceptual phase and hinges on evolving regulatory frameworks, particularly the new stablecoin legislation. The consortium would involve Early Warning Services and The Clearing House, both pivotal players in the US payments infrastructure.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> WALL STREET STABLECOIN?<\/p>\n<p>JPMorgan, BofA, Wells Fargo, and Citi are exploring a joint crypto stablecoin.<\/p>\n<p>But if banks control the network\u2026 how is this NOT a CBDC? <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f914.png\" alt=\"\ud83e\udd14\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>Decentralization on the line.<a href=\"https:\/\/twitter.com\/hashtag\/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#stablecoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#RLUSD<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/usdt?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#usdt<\/a> <a href=\"https:\/\/t.co\/t7EbYjHjbx\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/t7EbYjHjbx<\/a><\/p>\n<p>\u2014 AltcoinPro (@AltcoinPro_) <a href=\"https:\/\/twitter.com\/AltcoinPro_\/status\/1925753436005433746?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 23, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" rel=\"\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/p>\n<h2>Wall Street Stablecoin in the Making?<\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f91d.png\" alt=\"\ud83e\udd1d\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Big banks are teaming up to create a joint stablecoin.<\/p>\n<p>Because nothing says &#8220;we understand crypto&#8221; like a committee of suits trying to reinvent the wheel.<\/p>\n<p>Stay tuned for the launch of &#8220;BankCoin&#8221;\u2014coming soon to a bureaucracy near you. <a href=\"https:\/\/t.co\/djjxdbaGSw\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/djjxdbaGSw<\/a><\/p>\n<p>\u2014 Surge (@WeSurgeNow) <a href=\"https:\/\/twitter.com\/WeSurgeNow\/status\/1925781227958628439?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 23, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">In recent years, stablecoins have become a preferred vehicle for fast, low-cost transfers, especially in cross-border settings where traditional banking systems can be cumbersome.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As crypto-native firms and even big tech companies eye the stablecoin market, US banks are increasingly concerned about losing deposits and transaction volume to the new digital challengers. Hence, a Wall Street stablecoin could be in the making!<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the potential for stablecoins to serve as \u201cdigital dollars\u201d threatens the core business of banks, prompting them to consider launching their own alternative.\u00a0<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:<\/span><\/strong>\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025 \u2013 Top New Crypto Coins<\/span><\/a><\/p>\n<h2>GENIUS Act Advances With 66 Votes<\/h2>\n<p>The US Senate has advanced the GENIUS Act, a bipartisan bill regulating stablecoins. The legislation passed a procedural vote with 66 in favor and 32 against, signaling strong momentum for regulatory clarity.<\/p>\n<p>The bill aims to set clear guidelines for stablecoin issuers, including 1:1 asset backing, anti-money laundering compliance, and consumer protections. It could help reduce systemic risk and promote more mainstream adoption of crypto-based payment systems if enacted. However, the bill has also drawn scrutiny, particularly concerning US President Donald Trump\u2019s growing ties to crypto. Some critics argue that these ties may introduce potential conflicts of interest, especially if policies are shaped to benefit affiliated ventures.<\/p>\n<p>Still, for market participants, the advancement of the GENIUS Act is largely seen as a step toward legitimacy for digital assets and stablecoins in particular. With Bitcoin nearing its all-time high and institutional interest returning, the regulatory structure may help sustain momentum.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/presales\/trump-meme-coin-pumps-as-senate-backs-crypto-stablecoin-bill-new-presale-to-buy\/\">TRUMP Meme Coin Pumps Amid GENIUS Act: New Presale to Buy<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks are contemplating a joint stablecoin to counter crypto competition.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         The potential for stablecoins to serve as \u201cdigital dollars\u201d threatens the core business of banks, prompting them to consider launching their own alternative.\u00a0<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/us-banking-giants-explore-joint-stablecoin-to-counter-crypto-competition\/\">US Banking Giants Explore Joint Stablecoin to Counter Crypto Competition<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s safe to say that the surge in stablecoin adoption has not gone unnoticed by the banks. Several of the largest banks in the US are reportedly in early talks to launch a joint stablecoin, aiming to challenge the popularity of crypto and digital payment solutions.\u00a0 \u201cThe conversations have so far involved companies co-owned by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28295","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28295"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28295\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}