According to The Wall Street Journal, several large US banks are in talks to launch a joint stablecoin.
These talks involve companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks.
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The talks are still at an early stage and remain conceptual, with possible changes.
One proposal under consideration is a model in which other banks, in addition to consortium co-owners such as Clearing House and Early Warning Services, could use the stablecoin.
In addition, some regional and community banks are exploring the idea of forming their own independent stablecoin consortium.