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Crypto

BoA, Deutsche Bank, UBS and others form stablecoin alliance of 21 global financial institutions

Twenty-one major global financial institutions have begun work to jointly establish a stablecoin issuer, with a plan to launch a U.S. dollar-based stablecoin in the first half of 2027. Participants include Bank of America, Goldman Sachs, Citi, Deutsche Bank, UBS, Santander, MUFG and Fidelity Investments. The group plans to focus first on a dollar stablecoin and later expand to products based on other G7 currencies, with a euro stablecoin listed next.

Crypto

JPMorgan hints at possible in-house stablecoin issuance; customer demand and regulation are variables

JPMorgan has left open the possibility of issuing its own stablecoin in the future. It said it has no current plan to launch one, but could review related options depending on customer demand and changes in the regulatory environment. The bank already operates JPM Coin, a digital deposit token for institutional clients, which it said differs structurally from stablecoins. Interest is growing among U.S. banks in pursuing stablecoin projects, including consortium efforts such as OpenUSD.

Crypto

U.S. big banks weigh issuing stablecoins to counter crypto firms

Major U.S. banks are speeding up reviews of digital dollar strategies, including the direct issuance of stablecoins, amid concerns that a fast-growing stablecoin market could deepen crypto firms\' and nonbanks\' encroachment on traditional banking. JPMorgan has explored the possibility but said it has no current plan to issue a stablecoin. More than 12 financial institutions are also considering a joint global stablecoin venture, while a consortium of state bankers\' associations has outlined a bank-owned blockchain platform.