U.S. Banking Giants Consider Jointly Launching Stablecoin

According to the Wall Street Journal, major US financial institutions, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other commercial banks, are in initial discussions to jointly launch a stablaoin strong p>This move appears to be a strategic response as competition from the cryptocurrency industry increases.stablecoin bill and market demand. In particular, of the possibility of launching aablstat the end of last February.

broad changes within the banking sector. It was particularly driven by potential widespread adoption adoption of stablecoinstablecoins during the Trump administration.

This could disrupt traditional deposits and transactions. The risk is especially high if major tech companies or major retailers adopt it.

"industry is in catch-up mode in the cryptocurrency field since the regulatory crackdown two two years ago," the WSJ mentioned.

Meanwhile, these conversations emerged amid the country's increased focus on regulating theurrsector through the GENIUS>genius. Despite opposition, the bill passed the cloture vote earlier this week. 16 Democrats changed their votes in favor.. The GENIUS is billwaits final voting in the Senate.

"The US Senate will vote on the GENIUS Stablecoin bill next week - it will pass," Ryan Sean posted posted.

Adams believes the bill bill's passage will trigger massive issuance as fintech companies, banks, and SNSS quickly adopt stablecoins. that most of these have the necessary infrastructure and are waiting for regulatory approval.Wyoming Senator Cynthia Lummis also emphasized the significant impact bill.

qu>"ablecoins are not the future, but the present. Digital assets enable payments 24/7 without costs," she <described the bill as 'thoughtful and balanced approach' necessary for the US and expand leadership in financial investment. Lummis emphasized the importance of maintaining US dominance in digital finance and urged efforts to ensure leadership does not move to other countries.

Market predictions highlight emphasize this urgency. The US Treasury predicted that the stablecoin market could reach $2 trillion by 2028. Additionally, Citigroup's forecast anticipates market capitalization could reach $3.7 trillion by 2030.

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