publication
2025-05-26 12:02
update
2025-05-26 12:19
The largest banking institutions in the United States analyze the establishment of an alliance. The goal would be to broadcast a common stable cryptocurrency, the so -called Stablecoin. The previous similar idea was killed by the head of the Fed, but this time the climate is more favorable.
Several major players on the American banking market plan to emit Stablecoin together, reports “The Wall Street Journal”. M.im is to be in the group establishing the coalition. JPMorgan Chase, Bank of America, Wells Fargo and Citigroup. The journal indicates that the talks are at an early stage and one of the analyzed models is to provide the settlement options for tokens to other banks. According to WSJ information, a group of regional banks is also preparing a similar undertaking.
Banking Stablecoin
Stable cryptocurrencies, so -called Stablecoin, can work based on various assumptions. One of the options is the issue in a “one to one” ratio based on reserves in the official currency (e.g. American dollars). Then the token maintains a constant course relative to the reference point, and at the same time retains all the advantages of cryptocurrencies – fast and irreversible settlement, the possibility of using intelligent contracts, etc.
If the issuer of such a stable cryptocurrency is a bank, then you can talk about sticenized cashless money or sticenized depositspossibly deposit tokens. One of the banks that would participate in the American consortium (JP Morgan) widely analyzed such a creation in one of the reports. The “mirror image” of this idea, only performed by the central bank, is the digital money of the central bank (CBDC).
Facebook has already fallen in this field
We would like to remind you that in 2018 Facebook took up work on a very similar idea. At that time, the original vision of digital money included Stablecoin based on the basket of official currencies. The Libra consortium and later Diem emerged from the idea. After many years of preparation and several changes to the assumptions, the nail was the then head of the Fed, Janet Yellen into the casket of the undertaking. Financial markets regulators, not only in the USA, were terrified by the vision of a non -bank giant entering the world of global money. We described the broadly complicated fate of Diem and the causes of Facebook's failure in Bankier.pl.
Banks' consortium has a much greater chance of bringing Stablecoin's successful debut on the market. It is important here not only that the issuers are already supervised, but also the fact that in 2025 the regulatory environment looks completely different. “New” President Trump announced a more friendly cryptocurrency attitude, and the result of changes are work on two laws – Genius Act and Stable Act.
