Initially reluctant toward stablecoins, many American banks are now considering launching their own. A consortium including Bank of America, Wells Fargo, Santander and a dozen other financial institutions is preparing a global stablecoin, while the European project Qivalis aims for a euro stablecoin before year-end. The OCC, the main US banking regulator, confirms that integrating payment stablecoins into business plans is becoming standard practice. Circle (USDC) obtained a national banking license in the United States in July, and Kraken aims to become the first crypto platform with a European banking license. According to Nathan McCauley, CEO of Anchorage, his company currently manages more than a dozen stablecoin projects in development for banks or bank-led consortia.
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