Aug. 26 at 3:37 PM
$BAC $WFC $SAN
Banks warming up to launching own stablecoins, WSJ reports
Banks large and small have started to warm up to the idea of their own stablecoins, despite early doubts from some executives that there will be much demand for them, as non-bank companies like Visa (V), BlackRock (BLK), Google (GOOGL), and DoorDash (DASH) enter the market, The Wall Street Journal's Gina Heeb and Vicky Ge Huang report. JPMorgan (JPM) recently evaluated whether it could launch its own stablecoin, according to people familiar with the matter. The largest U.S. bank already has a tokenized deposit called JPM Coin and its own blockchain. A group of more than a dozen financial institutions including Bank of America (BAC), Wells Fargo (WFC) and Santander (SAN) has been moving forward on a stablecoin venture that would reach across the globe, according to people familiar with the matter..
