Major US banks are reconsidering their stance on stablecoins and are now exploring the possibility of issuing their own digital currencies pegged to the dollar. JPMorgan has evaluated launching a stablecoin, while a group of more than a dozen financial institutions including Bank of America, Wells Fargo and Santander is preparing a global stablecoin project. A consortium representing approximately 3,000 US banks has also announced the development of a bank-owned blockchain platform. The top stablecoins already represent a market worth hundreds of billions of dollars, prompting banks to defend their role in the future of payments.
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