Particle.news
Download on the App Store
17 ARTICLES
·
yesterday

Big Banks Signal Stablecoin Push as Crypto Bills Stall in the House

Major lenders mapped out token initiatives on earnings calls ahead of expected U.S. stablecoin regulations

Brian Moynihan, chair of the board and CEO of Bank of America, speaks during The Clearing House Annual Conference in New York City, U.S. November 13, 2024. REUTERS/Brendan McDermid/File Photo
Image
Image
Image

Overview

  • JPMorgan Chase CEO Jamie Dimon said the bank will develop both its proprietary deposit token and broader stablecoins to master the technology and counter fintech rivals.
  • Citigroup CEO Jane Fraser confirmed the bank is exploring a Citi-backed stablecoin alongside tokenized deposits and crypto custody services.
  • Bank of America has laid stablecoin groundwork and plans to deploy a solution when client demand and clearer regulations align.
  • Morgan Stanley executives said they are actively evaluating stablecoin use cases for their client base but remain in the early research phase.
  • Legislation such as the Senate-passed GENIUS Act is stalled in the House and analysts warn that a market exceeding $750 billion could force shifts in U.S. Treasury bill issuance.