JPMorgan's flirting with a stablecoin play again—WSJ dropped this yesterday.
No active product yet. Spokeswoman says they're watching customer demand + regs. Translation: they're waiting for clarity before committing.
Reminder: JPM already runs JPM Coin—a tokenized deposit for institutions on their private chain. It's basically an internal rail for approved counterparties to move dollars on-chain. Not a public stablecoin.
Meanwhile, Wells Fargo, BofA, Santander + 10+ other banks are cooking up a global stablecoin venture. Starting with $USD backing, eyeing €EUR and other G7 currencies. Focus = commercial use cases, not retail.
This isn't new. Last May, WSJ reported the same banks exploring a joint stablecoin to compete with crypto rails eating their lunch in payments.
TradFi sees the writing on the wall. Stablecoins are infrastructure now. Question is whether they move fast enough or stay stuck in committee hell while $USDT and $USDC keep running the game.
No active product yet. Spokeswoman says they're watching customer demand + regs. Translation: they're waiting for clarity before committing.
Reminder: JPM already runs JPM Coin—a tokenized deposit for institutions on their private chain. It's basically an internal rail for approved counterparties to move dollars on-chain. Not a public stablecoin.
Meanwhile, Wells Fargo, BofA, Santander + 10+ other banks are cooking up a global stablecoin venture. Starting with $USD backing, eyeing €EUR and other G7 currencies. Focus = commercial use cases, not retail.
This isn't new. Last May, WSJ reported the same banks exploring a joint stablecoin to compete with crypto rails eating their lunch in payments.
TradFi sees the writing on the wall. Stablecoins are infrastructure now. Question is whether they move fast enough or stay stuck in committee hell while $USDT and $USDC keep running the game.