Top American banks consider working together on a Stablecoin, according to a report from Wall Street Journal.
JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Early Warning Services (Operator Van Zelle) and The Clearing House, including commercial banks, are Reportedly In conversations to develop a stablecoin to compete with the cryptocurrency industry.
The Wall Street Journal quotes ‘people who are familiar with the case’.
According to the WSJ sources, the financial giants are only in the early stages of discussions. In those discussions there is skepticism about the security of Stablecoin, in addition to the crypto industry as a whole.
Het nieuws komt op de hielen van een S&P Global Report en ontdekte dat de gecombineerde activa van JPMorgan Chase, Bank of America, Citibank en Wells Fargo in het eerste kwartaal van 2025 met 5,9% ballon, of $ 681,71 miljard, in het eerste kwartaal van 2025, in schril contrast met “een contractie van 2,9% in het voorgaande kwartaal”.
“JPMorgan Chase & Co., the largest American bank at $ 4,358 trillion in total assets from 31 March, reported an increase of $ 355.04 billion in assets in the first quarter. That meant the third highest consecutive consecutive increase in the 50 largest banks in the country at 8.9%.
Citigroup Inc. placed the second highest consecutive growth at 9.3%, or an increase of $ 218.57 billion in assets.
Bank of America Corp. reported the growth of the assets of 2.7% compared to the previous quarter, while the assets of Wells Fargo & Co. In the same period by 1.1% rose. “
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