Learn More about Lumida ETF
Powered by LumidaWealth.com
Lumida News
  • Home
  • EarningsNEW
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us
No Result
View All Result
Lumida News
  • Home
  • EarningsNEW
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us
No Result
View All Result
Lumida News
No Result
View All Result
  • Lumida Wealth
  • Lumida Ledger
  • LUMIDA ETF
  • About Us
Home News Crypto

Big Banks Explore Joint Stablecoin to Compete with Crypto Industry

by Team Lumida
May 23, 2025
in Crypto
Reading Time: 5 mins read
A A
0
Big Banks Explore Joint Stablecoin to Compete with Crypto Industry
Share on TelegramShare on TwitterShare on FacebookShare on LinkedinShare on Whatsapp

Key Takeaways:

Powered by lumidawealth.com

  • Major U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are in early discussions to create a joint stablecoin to compete with the growing cryptocurrency market.
  • The stablecoin would aim to facilitate faster transactions, such as cross-border payments, while addressing concerns about security and regulatory compliance.
  • The initiative involves companies like Early Warning Services (operator of Zelle) and the Clearing House, with a potential model allowing other banks to use the stablecoin.
  • Banks are responding to the risk of stablecoins becoming widely adopted under President Trump’s administration, which could siphon deposits and transactions from traditional banking.

What Happened?

The largest U.S. banks are exploring the creation of a joint stablecoin to counter the rising influence of the cryptocurrency industry. Stablecoins, which function as digital dollars backed by reserves like cash or Treasurys, are increasingly used for storing value and facilitating transactions in crypto markets.

The discussions, still in the conceptual stage, involve major players like JPMorgan Chase, Bank of America, and Citigroup, as well as payment networks like Zelle and the Clearing House. The banks see stablecoins as a way to modernize payment systems, particularly for cross-border transactions, which are often slow and costly in traditional banking.

The move comes as the Senate advances the GENIUS Act, a bill that would establish a regulatory framework for stablecoins. While the bill imposes restrictions on nonfinancial companies issuing stablecoins, it stops short of banning them entirely, leaving room for competition from tech firms and retailers.


Why It Matters?

The potential entry of big banks into the stablecoin market signals a significant shift in the financial landscape, as traditional institutions seek to bridge the gap between mainstream finance and the crypto world. By issuing their own stablecoin, banks could retain control over deposits and transactions, which are at risk of being diverted to private stablecoins issued by tech companies or crypto firms.

Stablecoins offer a faster, more efficient way to move money, particularly for cross-border payments, making them a logical area for banks to explore. However, the initiative also highlights the challenges of navigating regulatory uncertainty and addressing security concerns associated with digital assets.

For the crypto industry, the involvement of traditional banks could lend legitimacy to stablecoins but also intensify competition, particularly as banks leverage their scale and infrastructure to dominate the market.


What’s Next?

The bank consortium will continue to evaluate the feasibility of a joint stablecoin, with final decisions likely influenced by the outcome of the GENIUS Act and other regulatory developments. If the stablecoin moves forward, it could set a precedent for collaboration between traditional finance and digital assets.

Regional and community banks are also exploring their own stablecoin initiatives, though such efforts may face greater challenges due to limited resources and infrastructure.

Investors and industry stakeholders should monitor the evolving regulatory landscape and the potential impact of bank-issued stablecoins on the broader crypto market. The success of this initiative could reshape the competitive dynamics between traditional banks, tech companies, and crypto firms.

Source
Tags: Bitcoin
Previous Post

Bitcoin Hits $110K, But Traders Aggressively Short Amid Record Highs

Next Post

Trump Administration Blocks Harvard from Enrolling Foreign Students, Escalating Tensions

Recommended For You

BlackRock’s Bitcoin ETF Sees Record $6.35 Billion Inflows Amid May Rally

by Team Lumida
23 hours ago
Is BlackRock the New Leader in Alternative Investments?

Key Takeaways: Powered by lumidawealth.com BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest-ever monthly inflow in May, attracting $6.35 billion and lifting total assets under management to over $71...

Read more

Bitcoin ETFs Attract $9 Billion as Investors Shift Away from Gold

by Team Lumida
2 days ago
Bitcoin Mining Stocks Outperform BTC in Early 2025, Network Strength Grows

Key Takeaways: Powered by lumidawealth.com Over the past five weeks, U.S. Bitcoin ETFs have seen inflows exceeding $9 billion, led by BlackRock’s iShares Bitcoin Trust ETF (IBIT), while gold-backed...

Read more

Ether Poised for Breakout Above $3,000 as Bullish Pattern Emerges

by Team Lumida
3 days ago
black and white star logo

Key Takeaways: Powered by lumidawealth.com Ether (ETH) is forming an ascending triangle pattern, a bullish technical indicator, suggesting a potential breakout above $3,000. The 50-day Simple Moving Average (SMA)...

Read more

Bitcoin Faces Risk of Pullback to $100K Amid Bearish Momentum Divergence

by Team Lumida
4 days ago
Bitcoin Could Drop to $50K Before a Potential Fed-Driven Rally

Key Takeaways: Powered by lumidawealth.com Bitcoin’s bull run has stalled near $108,000, with technical indicators signaling a potential pullback to the $100,000 support level. The 30-day rate of change...

Read more

Ethereum Rebounds from $2,477 Support Amid Heavy Trading Volume, Eyes $2,530 Breakout

by Team Lumida
5 days ago
gold and black star print round ornament

Key Takeaways: Powered by lumidawealth.com Ethereum (ETH) rebounded strongly from the $2,477 support level, driven by extraordinary trading volume nearly three times the average. The cryptocurrency is navigating a...

Read more

Bitcoin Hits $110K, But Traders Aggressively Short Amid Record Highs

by Team Lumida
1 week ago
Bitcoin Plunges to $64K Amid U.S. Tech Stock Turmoil

Key Takeaways: Powered by lumidawealth.com Bitcoin surged to a new record high above $110,000, liquidating $500 million in derivatives positions, but traders are aggressively shorting, with the long/short ratio...

Read more

Bitcoin Hits Record Close at $106,830, Eyes $110K as Next Key Level

by Team Lumida
1 week ago
Bitcoin Plunges to $64K Amid U.S. Tech Stock Turmoil

Key Takeaways: Powered by lumidawealth.com Bitcoin (BTC) closed at a record daily high of $106,830 (UTC), driven by increased investment in spot ETFs and concerns over fiscal health in...

Read more

Stablecoin Bill Advances in U.S. Senate, Marking a Major Win for the Crypto Industry

by Team Lumida
2 weeks ago
Bitcoin Mining Stocks Outperform BTC in Early 2025, Network Strength Grows

Key Takeaways: Powered by lumidawealth.com The U.S. Senate voted 66-32 to end a filibuster on stablecoin legislation, paving the way for debate and a potential vote as early as...

Read more

Coinbase Faces $400 Million Cyberattack Hit Amid SEC Scrutiny and S&P 500 Inclusion

by Team Lumida
2 weeks ago
Coinbase’s $25M Boost to Crypto’s Biggest Political War Chest Yet

Key Takeaways: Powered by lumidawealth.com Coinbase disclosed a potential $180 million to $400 million financial impact from a cyberattack that compromised customer data, including names, addresses, and emails, but...

Read more

Dogecoin, Cardano, and Solana Drop Over 5% as Crypto Market Sees Profit-Taking After Rally

by Team Lumida
2 weeks ago
Bitcoin Plunges to $64K Amid U.S. Tech Stock Turmoil

Key Takeaways: Powered by lumidawealth.com Major cryptocurrencies like Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) fell over 5% in the past 24 hours as traders locked in profits following...

Read more
Next Post
Trump Announces 25% Tariffs on Mexico and Canada, Targeting Border Security and Trade

Trump Administration Blocks Harvard from Enrolling Foreign Students, Escalating Tensions

China’s Bold Economic Moves: What You Need to Know Now

Senior US-China Officials Commit to Keeping Communication Lines Open Amid Tensions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

a computer screen with a bunch of data on it

Global Carry Trade Returns Under Threat as Currency Volatility Rises

January 26, 2025
$500 Billion Stargate AI Project Announcement Raises Funding Questions

U.S. Expands Sanctions on Iran to Target Lucrative LPG Exports

April 23, 2025
blue coupe parked beside white wall

Tesla’s Record Valuation Faces Reality Check as EV Sales Drop for First Time

January 3, 2025

Subscribe to Lumida Ledger

Browse by Category

  • Lifestyle
    • Family Office
    • Health and Longevity
    • Next Gen Wealth
    • Trust, Tax, and Estate
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Latest
    • Macro
    • Markets
    • Real Estate
  • Research
    • Trackers
  • Themes
    • Aging & Longevity
    • AI
    • Biotech
    • CRE
    • Cybersecurity
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
    • Software
Facebook Twitter Instagram Youtube TikTok LinkedIn
Lumida News

Premium insights to help you invest beyond the ordinary. Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser

CATEGORIES

  • Aging & Longevity
  • AI
  • Alt Assets
  • Biotech
  • CRE
  • Crypto
  • Cybersecurity
  • Digital Assets
  • Equities
  • Family Office
  • Health and Longevity
  • Latest
  • Legacy Brands
  • Lifestyle
  • Macro
  • Markets
  • News
  • Next Gen Wealth
  • Nuclear Renaissance
  • Private Credit
  • Real Estate
  • Software
  • Themes
  • Trackers
  • Trust, Tax, and Estate

BROWSE BY TAG

AI AI chips AI demand Amazon Apple Artificial Intelligence Banking Bitcoin China Commercial Real Estate CPI Crypto Donald Trump EARNINGS ELON MUSK ETF Ethereum Federal Reserve financial services generative AI Goldman Sachs Google India Inflation Interest Rates Investment Strategy Japan Jerome Powell JPMorgan Markets Meta Microsoft Nasdaq Nvidia OpenAI private equity S&P 500 SEC Semiconductor stock market Tech Stocks tesla Trump Wells Fargo Whale Watch

© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018

No Result
View All Result
  • Home
  • Earnings
  • News
    • Alt Assets
    • Crypto
    • Equities
    • Macro
    • Markets
    • Real Estate
  • Lifestyle
    • Family Office
    • Health and Longevity
  • Themes
    • Aging & Longevity
    • AI
    • CRE
    • Digital Assets
    • Legacy Brands
    • Nuclear Renaissance
    • Private Credit
  • About Us

© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018