{"id":43004,"date":"2025-05-23T15:00:19","date_gmt":"2025-05-23T12:00:19","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=43004"},"modified":"2025-05-23T13:47:39","modified_gmt":"2025-05-23T10:47:39","slug":"joint-stablecoin-initiative-by-major-us-banks","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/joint-stablecoin-initiative-by-major-us-banks\/","title":{"rendered":"Joint Stablecoin Initiative by Major US Banks\u00a0"},"content":{"rendered":"<ul>\n<li><strong>JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo have begun discussions for a joint stablecoin project.\u00a0<\/strong><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Leading financial institutions in the <strong>US<\/strong> are taking action to transform digital finance. This move aims to increase competition against the growth of the <strong>cryptocurrency sector<\/strong> and the entry of tech giants into finance.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The banks are collaborating with organizations <strong>managing payment systems<\/strong> like <strong>Early Warning Services and the Clearing House<\/strong>, which oversee Zelle. The goal is to make payments faster, cheaper, and more secure. Although the talks are not official yet, the strategy planning process is accelerating. The banks may advance or cancel the project depending on customer<strong> demands and regulatory<\/strong> frameworks.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/joint-stablecoin-initiative-by-major-us-banks\/#Stablecoin_and_Blockchain_Technology\" title=\"Stablecoin and Blockchain Technology\u00a0\">Stablecoin and Blockchain Technology\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/joint-stablecoin-initiative-by-major-us-banks\/#GENIUS_Act_New_Rules_for_Digital_Finance\" title=\"GENIUS Act: New Rules for Digital Finance\u00a0\">GENIUS Act: New Rules for Digital Finance\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Stablecoin_and_Blockchain_Technology\"><\/span><span data-contrast=\"auto\">Stablecoin and Blockchain Technology<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">The planned <strong>stablecoin<\/strong> will be pegged to the <strong>US dollar<\/strong> and operate on <strong>blockchain<\/strong> infrastructure. This will speed up international transfers and large transactions at a lower cost. Additionally, <strong>blockchain\u2019s transparency and security advantages<\/strong> will enhance financial efficiency. This system aims to bridge traditional finance with the digital economy.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"GENIUS_Act_New_Rules_for_Digital_Finance\"><\/span><span data-contrast=\"auto\">GENIUS Act: New Rules for Digital Finance<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">The <a href=\"https:\/\/coinengineer.net\/blog\/genius-stablecoin-act-tether-now-subject-to-u-s-jurisdiction\/\"><strong>GENIUS<\/strong><\/a> Act is an important regulation aimed at establishing the <strong>legal<\/strong> infrastructure for the digital dollar. This law grants banks and non-bank financial institutions the authority to issue stablecoins. Publicly traded technology companies can also enter this space under certain rules.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The law provides a comprehensive framework to <strong>regulate digital finance<\/strong>. It sets uniform rules for all stakeholders, creating a standardized regulatory structure. It prioritizes security and transparency. Organizations apply the highest security standards to protect customer data and transactions. Banks aim to align the project with<strong> US regulatory<\/strong> bodies. During this process, they evaluate technical infrastructure and carefully analyze customer demands. The goal is to maintain the highest security level and meet user needs.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li><strong>Permission for banks to issue stablecoins\u00a0<\/strong><\/li>\n<li><strong>Permission for non-bank financial firms to issue stablecoins\u00a0<\/strong><\/li>\n<li><strong>Limited stablecoin permissions for publicly traded tech companies\u00a0<\/strong><\/li>\n<li><strong>Proposal for a uniform regulatory framework\u00a0<\/strong><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">For example, <strong>Donald Trump<\/strong> launched his own meme coin. In March, his family-connected company, <a href=\"https:\/\/coinengineer.net\/blog\/trumps-world-liberty-financial-sells-more-tokens-after-presale\/\"><strong>World Liberty Financial<\/strong><\/a>, announced plans to issue a stablecoin. These moves are pushing major banks to accelerate their <strong>digital<\/strong> strategies. Banks do not want to lose advantages to aggressive and flexible competitors. Many <strong>crypto-focused<\/strong> companies are striving to comply with official banking regulations. These firms believe the <strong>GENIUS Act<\/strong> will make the process more accessible.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo have begun discussions for a joint stablecoin project.\u00a0 Leading financial institutions in the US are taking action to transform digital finance. This move aims to increase competition against the growth of the cryptocurrency sector and the entry of tech giants into finance.\u00a0 The banks are collaborating<\/p>\n","protected":false},"author":36,"featured_media":43005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[7944,192,11032,9478,58,12754,9482,9342,4522,14489,16308,15541,488,7749,16309],"class_list":["post-43004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bank-of-america","tag-blockchain","tag-citigroup","tag-crypto-adoption","tag-cryptocurrency","tag-digital-dollar","tag-digital-finance","tag-financial-regulation","tag-fintech","tag-genius-act","tag-jpmorgan-chase","tag-payment-systems","tag-stablecoin","tag-wells-fargo","tag-zelle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Joint Stablecoin Initiative by Major US Banks\u00a0 - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/joint-stablecoin-initiative-by-major-us-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joint Stablecoin Initiative by Major US Banks\u00a0 - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo have begun discussions for a joint stablecoin project.\u00a0 Leading financial institutions in the US are taking action to transform digital finance. 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