Big Banks Explore Venturing Into the Crypto World Together with a Joint Stablecoin
- Miguel Virgen, PhD Student in Business
- Aug 21, 2025
- 9 min read
The image of Wall Street and blockchain sitting at the same table once seemed fanciful. Today it looks increasingly deliberate. In the spring of 2025, multiple reports surfaced that some of the nation’s largest banks are quietly exploring whether to team up to issue a joint stablecoin. The story is not just about banks wanting to mint a digital dollar; it is also about legacy lenders confronting a moment of strategic choice. They can either cede plumbing and transaction flows to fintechs, crypto firms, and big tech, or they can try to reclaim those flows by building bank-backed digital tokens that move money faster, cheaper, and with the compliance controls regulators expect. Early reporting indicated that talks are preliminary, that the discussions involve payments companies co-owned by major banks, and that the initiative would be shaped heavily by evolving regulation in Washington. (The Wall Street Journal, Reuters)
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