The Wall Street Journal reported that large banks, including United States banks, banks of rich countries and Santander, were moving forward with a joint currency stabilization programme. It was mentioned that a coalition of state bankers ' associations planned to launch a block-link platform called Bank Chain Alliance in the first half of 2027 to support the stabilization of currency-related operations.
This shows a continued shift in the attitude of traditional banks in the United States towards a stable currency. Previously, some bank executives had questioned whether there was sufficient demand for such products, but as non-bank institutions accelerated their access to markets, the banking sector began to more actively organize related operations.
Non-banking institutions first.
It was reported that non-banking companies such as Visa, Beled, Google and DoorDash had entered the stable currency market and made some progress. The importance attached by the banking sector to the stabilization currency is also linked to the expansion of such competitors.
In June of this year, Visa, MasterCard and Stripe allegedly started to develop a United States dollar-linked joint stabilization currency. Last month, Visa Stablecoin Platform was launched to provide financial institutions and financial technology companies with stable currency access and management tools.
Many banks have been set up alone.
In addition to joint projects, part of the participating banks have also advanced their own stable currency or chain-based payments projects over the past year. Reports indicate that the Bank of the United States began to develop a currency stabilization plan before the summer.
Morgan Chase has also recently assessed whether to introduce its own stable currency. The Bank had previously launched a monetization deposit product, JPM Coin, and continued to advance block chain-related operations.
Banking speeds up defense of payment entrances
From the information currently disclosed, the banking sector does not view the currency of stability as an encrypted asset product alone, but begins to include it in the competition for payment, liquidation and enterprise-level funds management tools. As card organizations, financial technology companies and asset management agencies continue to grow, traditional banks are trying to avoid falling behind in the new round of digital dollar infrastructure competition.
The speaker from Chase Morgan stated that the Bank currently had no plans to issue a stabilization currency, but that future options would be assessed in the light of client needs and regulatory changes.