Several major banking institutions in the US are allegedly considering a collaboration to introduce a crypto stablecoin.
According to a report by The Wall Street Journal on May 22, companies affiliated with JPMorgan, Bank of America, Citigroup, and Wells Fargo have held discussions about the possibility of jointly creating a stablecoin, as indicated by sources familiar with the situation.
Additional financial entities associated with the proposed stablecoin include Early Warning Services, which is the parent organization of the digital payment network Zelle, and the payment network Clearing House.