American banking giants are embarking on the Stablecoins race

While the United States has just crossed a decisive course by voting in the House several unpublished laws framing the stablecoins, the major American banks are already sharpening their strategy. Bank of America, Citigroup or JPMorgan prepare, in all discretion, the launch of their own stablecoins.

Bank of America and Citigroup secretly prepare their private stables

Bank of America set the tone this week. Brian Moynihan, CEO of the second largest American bank, confirmed that the establishment was actively working on the development of a Stablecoin.

“” We believe that the sector and ourselves will have answers. We worked a lot “, he said During a conference call with analysts.

This position marks a symbolic turning point. Long reserved for native crypto actors, the stablecoins now attract the attention of traditional finance giants. Wall Street no longer wants to stay on the sidelines of this effervescence market.

However, caution remains in order. Moynihan compares the growing interest of banks for stablecoins to the gradual adoption of payment solutions like Zelle or Venmo. A transition which he deems natural, guided by the evolution of uses and expectations of institutional customers.

Citigroup does not hide its ambitions. Indeed, Jane Fraser, CEO of the bank, spoke of the issue of a “stablecoin Citi” intended to facilitate digital payments.

“” We are considering the emission of a stablecoin Citi. It is an excellent opportunity for us. “, she said last Tuesdaywhen the quarterly results are published.

Gracy Chen, CEO of Bitget, decrypts this dynamic:

Large banks, such as Citigroup and Bank of America, are increasingly exploring the initiatives related to Stablecoins, following the example of JPMorgan with his JPMD deposit token on the base blockchain, which testifies to a wider development of institutions to finance based on blockchain.

The perfect timing of a changing industry

The political context plays in favor of these projects. Donald Trump, who proclaimed himself “president of the crypto”, created an environment conducive to the development of digital assets.

Yesterday, the House of Representatives also voted three crucial laws for the American crypto ecosystem, including the Genius Act which specifically supervises the stablecoins.

Faced with these advances, some banks still prefer to observe. This is the case of Morgan Stanley. Its financial director, Sharon Yeshaya, said:

We study both the landscape, uses and potential uses for our own customers.

This waiting strategy remains widely shared by the banking sector, as long as the regulatory environment remains uncertain.

Even JPMorgan Chase, yet led by Jamie Dimon, known for his hostility to Bitcoin, does not exclude being involved. The CEO confirmed Tuesday that the bank would be involved in the Stablecoins, without revealing details on the calendar or the strategy.

Despite these opening signals, large banks remain suspended from legal clarification. Brian Moynihan (Bofa) admitted that the progress of his project was slower than expected, due to the lack of readability on the upcoming rules. Like many traditional establishments, he refuses to fully commit without a stable legal framework.

However, this waiting period could soon be coming to an end. Between the recent legislative advances and the resolutely pro-Crypto attitude of the Trump administration, a new CAP seems to take shape for American finance.

In the same dynamic, the White House is preparing an executive decree aimed at authorizing the inclusion of bitcoin in retirement plans 401 (K), thus opening the way to an even wider institutional adoption.