Wall Street giants are considering a stable currency market

Wall Street giants Morgan Chase, Blackstone and the Bank of Rich Countries are considering entering a market that has long been dominated by encrypted raw companies Tether and Circle. These banks are building stable currency payment systems, exploring digital dollars issued by banks and introducing a monetized money market fund to pay daily interest. At present, the amount of transactions processed daily in the stable currency has reached about 10 trillion won, or about $7 billion, an initiative that opens the door for regulated financial institutions to compete for control over digital currency。