Wall Street Banks Explore Issuing Joint Stablecoin, WSJ Reports

Some of Wall Street’s top banks are exploring whether to jointly issue a stablecoin, according to a report by the Wall Street Journal, citing people familiar with the matter.

The talks have been with companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, the report said, citing the people. The discussions are in early, conceptual stages and a final decision would depend upon stablecoin legislation and demand for such tokens, it said.

JPMorgan, Bank of America, Citigroup, Well Fargo didn’t immediately respond to emails sent by Bloomberg outside US business ...