JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report
Top U.S. banks are contemplating a joint venture to issue a dollar-pegged stablecoin in an attempt to counter the increasing competition from the cryptocurrency sector, according to a report dated Thursday.What Happened: Companies co-owned by JPMorgan Chase JPM, Bank of America BAC, Citigroup C, and Wells Fargo WFC are exploring the possibility of a joint stablecoin, the Wall Street Journal reported, citing sources familiar with the matter. The discussions, still in their infancy, involve Early Warning Serv ...