The “legitimate troops” from Wall Street are getting involved. 21 banks and asset management giants—such as Goldman Sachs, Bank of America, Citigroup, Wells Fargo, Deutsche Bank, UBS, Fidelity, and others—are preparing to issue their own USD stablecoins in the first half of 2027. After that, they plan to expand into the euro and other G7 currencies, all while staying closely aligned with the US’s GENIUS Act and the EU’s MiCA framework.
This is interesting. Right now, on-chain stablecoins are dominated by USDT alone (with a scale of more than $180 billion), while USDC is the second contender. When banks move in, the market is bound to be startled at first—Circle’s stock dropped 6% immediately. But to be honest, in the short term it’s about抢生意 (snapping up business), while in the long run it’s about putting an official stamp on the crypto industry.
For banks to treat “digital dollars” as legitimate infrastructure is tantamount to acknowledging that the stablecoin business is compliant and sustainable. Only then do institutions truly have the confidence to move real money—custody, institutional liquidity, cross-border settlement—onto the chain at scale. Bitcoin is now above $77,000, holding steady here; it’s waiting for this compliant pathway to gradually roll out.
So don’t just focus on the narrative of “banks coming to抢USDT的饭碗 (take USDT’s business).” The real signal is: the compliant foundation of the crypto market is being taken over by the most conservative group, to lay the groundwork. For crypto, this means a slow bull run—not a negative development.
This is interesting. Right now, on-chain stablecoins are dominated by USDT alone (with a scale of more than $180 billion), while USDC is the second contender. When banks move in, the market is bound to be startled at first—Circle’s stock dropped 6% immediately. But to be honest, in the short term it’s about抢生意 (snapping up business), while in the long run it’s about putting an official stamp on the crypto industry.
For banks to treat “digital dollars” as legitimate infrastructure is tantamount to acknowledging that the stablecoin business is compliant and sustainable. Only then do institutions truly have the confidence to move real money—custody, institutional liquidity, cross-border settlement—onto the chain at scale. Bitcoin is now above $77,000, holding steady here; it’s waiting for this compliant pathway to gradually roll out.
So don’t just focus on the narrative of “banks coming to抢USDT的饭碗 (take USDT’s business).” The real signal is: the compliant foundation of the crypto market is being taken over by the most conservative group, to lay the groundwork. For crypto, this means a slow bull run—not a negative development.