Bank of America, Wells Fargo, Santander Stablecoin Plans — WSJ
WSJ reports more than a dozen banks including Bank of America, Wells Fargo and Santander are advancing USD stablecoin plans; JPMorgan has no current issuance plans.
The Wall Street Journal reports that more than a dozen banks including Bank of America, Wells Fargo and Santander are advancing plans for a global stablecoin venture initially focused on USD.
JPMorgan Chase spokeswoman stated the bank has no current plans to issue a stablecoin but could evaluate options depending on customer demand and the regulatory environment.
JPMorgan already operates JPM Coin, a tokenized deposit system.
A consortium of 39 state bankers associations representing roughly 3,000 banks announced plans for a bank-owned blockchain platform.