WSJ: US largest banks are preparing their own steiblcoin

Several leading United States banks discuss the launch of a common steiblcoin in responding to competition by the crypto industry, reports The Wall Street Journal.

The negotiations include the Early Warning Services and The Clearing House network, which is owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other banks.

The project is in the conceptual stage – the final decision will depend on the adoption of the Genius law, which regulates the circulation of steiblcoins in the United States.

Banks are warning that the widespread introduction of steiblcoins under the Donald Trump administration will lead to the outflow of client deposits – especially if large technological companies or retailers enter the market.

One of the models under consideration implies that the steiblcoin consortium will also be available for third -party financial institutions. At the same time, regional banks also discuss the creation of a separate alliance, but face resource restrictions.

Austin Campbell, the founder of Zero Knowledge Consulting and Professor of New York University, believes that large banks are trying to slow down the spread of stablcoins with interest payments.

The Empire Lobbies Back

As i had predicted, I am hearing the Bank Lobby is Panicking about Stablecoins and Specialty the abstyness to pay any form of rewards or interest.

SO for My Friends on the Democratic Side, Let Me Simplify What You Are Hearing:

The Banks Want You To …

– Austin Campbell (@Campbelljaustin) May 21, 2025

“Banks want you to protect their cartel as they continue to pick up your voters,” Campbell said, addressing the Democrats in Congress.

In his opinion, the partial reservation system allows banks to earn extra profits, while clients remain without significant percent. The idea of ​​steiblcoins with rewards violates this status quo, so banks lobby for its ban.

Against the background of discussing the initiative on the market, there are projects that already offer passive income for storage of steiblcoins. In February Sec Approved the YLDS token from Figure Markets with a yield of 3.85% per annum.

The Tether Riv Collins co -founder announced the Pi Protocol project, which allows you to produce USP steiblcoin in exchange for USI – percentage token.

“It is unacceptable that the owners of the steiblcoins do not receive at least the basic risk -free rate,” CEO Phoenix Labs said Sam Macherson.

In his opinion, new models will make traditional banks increase interest on deposits so as not to lose customers.

We will remind, according to Fireblocks, most financial institutions are actively introducing stiblcoins into their activities – 90% of those surveyed already use tokens or plan their integration.

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