US Banks to Launch Stablecoin: Bank of America, Wells Fargo
Bank of America, Wells Fargo, Santander & over a dozen other major banks are moving forward with plans to launch a crypto stablecoin. According to a report from The Wall Street Journal, A consortium of state bankers’ associations plans to launch BankChain Alliance, a blockchain platform supporting stablecoins, in the first half of 2027.
Banks large and small have started to warm up to the idea of their own stablecoins, despite early doubts from some executives that there will be much demand for them. These banks are welcoming stablecoins as nonbank companies like Visa, BlackRock, Google, and DoorDash enter the market and have seen success. Back in June, Visa, Mastercard, and Stripe reportedly began developing a joint stablecoin pegged to the US dollar. In addition to that effort, last month, Visa launched the Visa Stablecoin Platform, giving financial institutions and fintechs a dedicated enterprise platform for stablecoin access and management.
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